Category Archives: ifta fuel tax

Required Details of Fuel records to Report IFTA

Complete fuel records of all motor fuel purchased, received, and used in the conduct of its business must be maintained. Separate totals must be compiled for each motor fuel type and retail fuel purchases and bulk fuel purchases are to be accounted for separately. Continue reading

IFTA Q3 Returns Are Due By October 31st 2015

Just like last quarter, you have to report your IFTA returns this quarter too. It is common for all IFTA Licensees to submit fuel tax reports every quarter of the year. The third reporting quarter for IFTA returns (July to September) is due on October 31st 2015. You have time till October 31st 2015 to prepare your IFTA returns, and get it post marked to avoid penalties & interests as will be considered as “Filed on time”.

Details Required for Online IFTA Preparation: Continue reading

What To Do With Your IFTA When You Have Not Driven Your Vehicle Last Quarter?

It is mandatory for IFTA license and decal holder to file IFTA each quarter without fail. However, there is one question, which keeps coming to us. “What if I didn’t run during the quarter, do I still have to file IFTA?”

Well, there are many things you need to keep in mind while you having a valid IFTA license and decal. We will explain you all of it! Keep reading to know and understand how it works. Continue reading

Basics Of IFTA- Part-1

Welcome back filers, it’s been a long week here at our end. How is your week treating you? Hope you are driving safe and fine on the highway. We have been receiving calls asking for more information about IFTA and that is why, this blog is dedicated to those who are new to filing taxes or preparing IFTA. Hope and trust we clear your queries. Additionally, we would like to divide the blog into two major parts for better understanding of IFTA. So stick around for a while and get a clear idea about IFTA. Continue reading

IFTA License And Decal Renewal

IFTA, the International Fuel Tax Agreement is active between 48 contiguous states and 10 Canadian Provinces, where the member jurisdictions act cooperatively to administer and collect motor fuel use taxes. The idea of IFTA was to establish and maintain the concept of one fuel use license and one administering base jurisdiction for each licensee. IFTA works when you have to report fuel tax to one or more state each quarter. However, today we are going to speak about IFTA renewal of license and decal. Continue reading

Get Your Taxes Calculated At TaxIFTA In Minutes

Hello IFTA filers, we know there are no mere due dates coming up in your calendar, however we are just getting you prepared for the next quarter. We know how tedious it gets when it comes to calculations. If you are preparing IFTA return manually, you need to check on the fuel tax rate, calculate with miles and the gallons applicable for the jurisdiction and pay the dues to your base jurisdiction.

As mentioned above, the workload for an IFTA filer is sufficient to keep them running around, excluding their deliveries. We duly understand that preparing IFTA manually is a difficult and errors are welcomed and thus, TaxIFTA.com took the initiative and developed an application with inbuilt talent, which can automatically calculate your dues once the information is provided.

Well, if you have never considered online filing, then its high time you consider it and try it yourself for feature-rich experience. It would not only ease up your task and provide you with the IFTA PDF in minutes, but also reduce your workload and you can breathe ease.

Here’s a small example about how calculations takes place at TaxIFTA.com.

Assume, you are driving on the roads of South Dakota and fill your fuel tank with 100 gallons of Diesel and you are moving towards North Dakota. Once you touch the road of North Dakota, you are pumping around 200 gallons of Diesel in your rig. You get your deliveries completed and now you are required to travel through Kansas. You are pumping another 120 gallons of Diesel in your rig. So for now, you have traveled through 3 jurisdictions.

Presume, your registered base jurisdiction is Minnesota; you need to prepare your IFTA return and submit the same to your base jurisdiction by the due date. If you are late, you are supposed to file penalty for the same.

Each jurisdictions have their own fuel tax rate and when you’re preparing your IFTA return manually, you need to check on the rates, calculated based on the miles and gallons consumed in that jurisdictions. However, if you prepare your IFTA return online, you need to mention the tax year you are filing for and the quarter. Pick your base jurisdiction you are registered with, share your vehicle number, TGW and the jurisdictions you have traveled. The application would also ask you about the fuel type, gallons of fuel consumed with the miles covered in that jurisdiction.

 So, while preparing IFTA return, you should file taxes for South Dakota, North Dakota and Kansas based on the gallons of diesel you pumped in each jurisdiction and the miles covered. Also, include the other jurisdictions you are traveled during that quarter in your IFTA form.

Once you complete filing these details, your tax dues would be calculated and displayed in front of you in seconds. Almost like a wink of your eye.

When things can be this simple for you, why should you opt for preparing your return yourself. The information you provided to prepare IFTA would be imprinted on the form and converted into a PDF, which is all set to be filed to your base jurisdiction.

Oh wait this is not the end. Other than providing you with well-equipped website, we also serve our tax filers with handpicked Tax Experts to assist you with your queries and serve you the best. For support, call us at 1-866-245-3918 or write to us @ support@taxexcise.com. Join hands with IFTA, you will not regret.

Time To Test Your IFTA Knowledge

IFTA, International Fuel Tax Agreement is an agreement between 48 lower states of the United States and Canadian provinces to simplify reporting fuel tax used by Motor carriers that are operating in one or more jurisdiction. Every IFTA filer should enclose an IFTA license and decal for each qualifying vehicle is operates for quarterly filing IFTA tax return, determining the net tax and refund through the form. However, today, we are going to check how familiar you are with IFTA. A part of your successful trucking company is dependent on your understanding of IFTA. Here’s the most common questions asked by the truck drivers about IFTA. Continue reading

Obtain IFTA Claim And Refund For Previous Filed Return:

We really have no details since when this trucking actually started, however, it is going on smooth road till date. The old truckers used to buy certain number of gallons from each state while they are traveling. However, with the time taking a leap towards technology, IFTA (International Fuel Tax Agreement) was initiated among the 48 jurisdictions and Canadian provinces in order to simplify the reporting of fuel used by each motor carrier in the jurisdictions. Also, IFTA filing is a quarterly based, IFTA filers should possess an IFTA license and a decal to report, pay and ask for a refund on the quarters filed to the base jurisdictions.

We have always been discussing about IFTA in general, but today we would talk about credits and refunds on your IFTA form.

There are scenarios when you pay more than you have to and in such situations every jurisdictions allow a credit and issues refunds to its licensees on behalf of all IFTA jurisdictions. You can request a refund on your IFTA tax return for any overpayment of tax. Also, you need to check on your base jurisdiction on the minimum refund amount. A refund will be issued once its determined that there are no taxes owing (including audit assessments) or delinquent tax returns under IFTA and any of the tax statutes administered by Taxation Division. Please note that all refunds are subject to audit.

If you do not request for a refund, the amount can be carry over and be applied to subsequent taxes owing on your next IFTA tax return.

Do note, the credit should be claimed or used as refund within eight calendar quarters after the calendar quarter in which the credit is earned. For example, if a credit accrues in the 3rd quarter, 2005, the licensee has until October 1, 2007, to request a refund or to apply the credit toward a liability.

So if you have any credits to claim or a refund as mentioned above, do come over TaxIFTA.comand prepare your return in minutes. You will find our application embedded with user centric ideas and innovated in a manner to provide 100% satisfaction.  We are pioneers in the tax industry and we are proud of the fact that we can serve the audience with the best.

Come over, and experience the unique knack in our application and share the same to our Tax Experts only @ 1-866-245-3918 or shoot an email to support@taxexcise.com. We are here to hear all you speak, grasp it and implement. And that is why we love having you around.

Prepare First Quarter IFTA Return, Due By April 30th With TaxIFTA.com

Welcome to our blog filers, it is so pleasing to have you all here. We know each week we provide you with information but today for a change, we are here to remind you about IFTA tax return due date that is falling on April 30th 2014. We know it is so difficult to be a trucker and taxes are more like an obligation for everyone. You pay them to stay safer, you don’t pay them, you pay with penalties. With time moving by, we have learned to manage and handle time, understanding what is important and what should stay away from our checklist. However, for this month, you have an important task in your tow, paying your IFTA tax return on or before 30thApril 2014. Continue reading

History of Diesel Fuel- Facts And Figures

Welcome back IFTA filers, hope you are fit and fine. For a long time, we have only been transferring information on paper, which would have bored you by now. So this time we decided to gear up with some history classes, making the blog reading session much exciting than before, assuring your eyes glued to the screen till the end.

So what is the topic of the blog today? Well, we are going to speak about diesel, how and when was it discovered, what were the early experiments made and much more. Keep reading further to know all about diesel. Continue reading