Category Archives: Online IFTA preparation

UPDATE: IFTA Penalties And Interest

Paying your dues via IFTA is a very important step and TaxIFTA.com is here to guide you in preparing your return online with the utmost ease. Getting your papers ready and manually filing taxes can be tedious and we are sure, you don’t have much time to get going with manual preparation of taxes. However, this may also lead to penalties, as you may not be able to take time out of your busy schedule. And that is when TaxIFTA.com paves the best road towards meeting taxes, with ease. Continue reading

Stay On Your Toes For IFTA Audits In Manitoba – Part- I

Hello commercial truck drivers, greetings from TaxIFTA.com. With the aspect of providing you information and knowledge about IFTA, today, we have decided to throw some light on IFTA audits, which play an important role in your trucking journey.

Below, we have jotted down few points that will give you a clear cut understanding about IFTA Audits happening in Manitoba. However, we would be splitting it into two blog post as the list of questions are many and fitting them in one would make you go crazy. Besides, we just gave you a reason to be around our blog, awaiting for the next blog post.

Here comes the list of questions for your better understanding. Continue reading

Reveal the Significance of Fuel Records For IFTA Taxpayers

Greetings from TaxIFTA.com, we’re delighted to have you as a part of our blog family. Our blog posts are dedicated to commercial truck drivers and today we would talk about fuel record management and its own set of requirements.

What is Fuel Records?

Fuel Records are records of the fuel purchased, received and used by the vehicle under the license of IFTA. With a variation of fuels available in the market, it is important to maintain a separate total for each fuel type.

Also, records for retail and bulk purchases should also be maintained separately. Continue reading

What is International Registration Plan?

The International Registration Plan or IRP is the method of registering fleets of vehicles that have been traveling in two or more member jurisdictions. All states (except Alaska and Hawaii), Washington D.C., and Canadian provinces (except Northwestern Territories, Nunavut and Yukon) are members of the plan. However, people who have qualified motor vehicles are subjected to IRP licensing, reporting and record-keeping requirements until and unless the vehicle is exempt or trip permit has been acquired. Continue reading

File IFTA for the Third Quarter Before October 31st

Being a trucker, many things come along. Paying IFTA taxes is one. This October 31st is the due date for filing your IFTA return for the third quarter. So truckers, get your documents ready, filing is not too far. Continue reading

Different types of Oil Filters

Welcome back truckers! We truly hope your hauling and trucking is moving smooth. In our previous blog, we discussed whatoil filters are. This time we would talk about what are the different types oil filters and their presence. Continue reading

Bunker Oil- Pros and Cons

There are many types of fuel available in the market. Among the lot, bunker fuel is one fuel, which is fractionally distilled from crude oil. Also known as fuel oil, the material is broken into various categories based on the chemical compositions, intended purpose and also the boiling temperature. Comparatively to other fuels and petroleum products,bunker fuelsare extremely crude and highly polluting. Continue reading

Improve Fuel Efficiency With Trailer Skirts

Fuel efficiency is important and essential as that counts as a major business expense. Trucking companies face large fuel bills and have raises their rates to meet their rising cost of fuel. However, by attaching a trailer skirt at the bottom, front or the side of the semi-truck box trailers, it can surely help you in reducing the cost of fuels. It all works by the drag created while the truck and trailer moves down the road. Continue reading

What You Need to Know when Filing for IFTA Return

Your trucking business is not limited within your state but can go beyond that. Additionally, those into the trucking business have to hire truck drivers for delivering goods from one place to another. Expanding the business in various states would be profitable but managing the fuel tax agreement might not be a pleasant experience because different states have different fuel taxes imposed. In addition, truck owners and operators are required to file fuel tax through IFTA and there certain rules attached to it. To save time, it is advisable to prepare for IFTA return online. In this blog, we shall discuss more about IFTA also providing tips and instructions.

Why Obtain an IFTA License: Trucking companies who thought filing fuel tax return was a burden might not be aware of the advantages that IFTA license provides.

  • Having IFTA license gives trucking companies the authority of moving their vehicles in various IFTA jurisdictions.
  • Truck owners need to file for International Fuel Tax Agreement return once under their base jurisdiction and should have the necessary details about the mileage and fuel use in other jurisdiction.
  • Audits are conducted by the base jurisdiction or the state in which the vehicle is licensed to.

Trucking companies filing IFTA return need to know that they would have to deal with one auditor, who belongs to the place where the business operates. Unlike previously, when businesses had to report to different auditors in different states. In addition, there might be states having different requirements for trucking companies filing this tax return. For example, there are states wanting truck companies to keep important credentials such as fuel receipts and trip permits for four years whereas, there might be states wanting the documents to be kept for more time. It is important for business owners preparing for the International Fuel Tax Agreement to be careful on these details to avoid penalties.

Filing IFTA Return Every Quarter for California State:

The deadline for the 2nd quarter to file for IFTA return is July 31, 2013. Interstate motor carriers having their base jurisdiction as California should file a completed tax return form, which comprises of two parts: ‘IFTA Quarterly Fuel Use Tax Return’ (IFTA-100), and ‘IFTA Quarterly Fuel Use Tax Schedule’ (IFTA-101). Motor carriers should ensure providing all the details in IFTA-101 form such as the fuel used or calculate the tax due on the total usage of fuel in each jurisdiction. Further, the information should be transferred to the IFTA-100 form. It is good to know that motor carrier owners need to make one payment and not different payments for the various jurisdictions they have purchased fuel from.

TaxIFTA.com makes it easy for interstate motor carrier owners prepare their IFTA return online, which they can mail it to the ‘California State Board of Equalization’ or whichever jurisdiction they belong to.