Let TaxIFTA Deal With Fuel Calculations- Prime Product Of ThinkTrade Inc

So taxpayers, welcome to our brand new blog at ThinkTrade Inc. Today, we are going to talk about one of the product, i.e. TaxIFTA.com. With a long list of products owned by ThinkTrade, TaxIFTA.com is one of the leading and most prominent products, serving truckers who wish to prepare their IFTA return online.

What Is IFTA?

IFTA is an abbreviation standing for International Fuel Tax Agreement and the tax collection agreement is among the 48 contiguous States and the 10 Canadian Provinces bordering the US, in which motor fuels use taxation laws are uniform with respect to qualified motor vehicles operated in more than one member jurisdiction. And if you are traveling through any of the jurisdictions during the quarters, with an IFTA license and decal for your truck, you are liable to report IFTA for your base jurisdiction.

It is mandatory to report and file IFTA return each quarter, even if you don’t have any miles to report or no miles covered in that quarter. You need to check on “NO OPERATIONS” in your IFTA form. This will indicate that you don’t have to pay any dues, however, you are keeping your base jurisdiction informed about the same.

What Is Required To File IFTA?

The following information is required on the IFTA quarterly tax return:

  • Total miles, taxable and nontaxable, traveled by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA, including trip permit miles;
  • Total gallons of fuel consumed, taxable and nontaxable, by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA;
  • Total miles and taxable miles traveled in each member jurisdiction;
  • Taxable gallons consumed in each member jurisdiction;
  • Tax-paid gallons purchased in each member jurisdiction; and
  • Current Tax Rates for each member jurisdiction.

When Is IFTA Due?

IFTA or International Fuel Tax Return is applicable to be filed quarterly. The due dates are as follow:

  • January to March (April 30th)
  • April to June (July 31st)
  • July to September (October 31st)
  • October to December (January 31st)

We are in the 4th quarter of the year and the filing a return for the same has a long way to go. However, it is better to have the documents in place during the quarter itself. In addition, if you have decided to prepare your return online, get the information handy and log in/ register with TaxIFTA.com. Fill in the details asked by the application and let the magic happen. The calculations would take place by itself once the data is provided to the application. You can say assured; the calculations are 100% accurate and error free. Also, you don’t have to run after tabs to check the fuel rate in each jurisdiction you have traveled that quarter. Our application has inbuilt software to deal with calculations, leaving you with less work.

Once you complete the procedure of filing online, your PDF is all ready to be printed and submitted to your base jurisdiction.

What’s more? We have a set of Tax Experts online to assist you with your queries any time of the day. Simply reach us @ 1-866-245-3918 or shoot an email to support@taxexcise.com. We are here to assist you and serve you every benefit you deserve to win.