Tag Archives: IFTA tax

Third Quarter IFTA Return for 2018 is Due By October 31st

Did you ever notice that when you put the words “The” and “IRS” together, it spells “THEIRS?”

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 2018, if you prepare and get it post marked before the End of the Month then your return will be considered “Filed on time”.

Information required for preparing an IFTA return: Continue reading

Less Than a Week Remaining to File IFTA Report for 2nd of 2018!

There are not many times I get nervous, but I do a little bit with penalties – Alan Shearer

The Deadline to file second quarter IFTA report for 2018 is quickly approaching.  Here are the List of important Information on what you need to file, and the importance of filing your IFTA taxes.  If you are new to trucking or just started a trucking company, we hope that you will find some very meaningful Information.  We know that you may be feeling a little anxious if you are new to IFTA filing, but our goal is to make the process as easy as possible.  The following are the must have for preparing your IFTA Report Continue reading

International Fuel Tax Agreement (IFTA) Report for 2nd Quarter of 2018 is DUE NOW!

What is IFTA?

The International Fuel Tax Agreement (IFTA), an agreement among the 48 contiguous states of the United States and the 10 Canadian Provinces, simplifies the reporting of fuel taxes. To avoid Complications involved in preparing multiple reports and paying taxes separately for Each State, IFTA allows Interstate Truckers to prepare and File one consolidated Quarterly Report to their Base jurisdiction.

Due Dates for IFTA: Continue reading

It’s July and it’s Time to Report Second Quarter IFTA for 2018!

“People were always getting ready for tomorrow. I didn’t believe in that. Tomorrow wasn’t getting ready for them. It didn’t even know they were there.”Cormac McCarthy

That was a great Quote and so true that Tomorrow might never come Today is yours and use it to the fullest. As we list down things to what to do let’s start doing it as well. One such very important & unavoidable element in every Interstate Heavy haulers carrier is Preparing & Filing IFTA every quarter. So when he/she starts to prepare his/her IFTA return on www.taxifta.com , it’s good to have the list of below mentioned information handy for a faster & smoother Tax Filing Experience. Continue reading

Get Ready to Prepare and File your 1st Quarter IFTA Return for 2018!

The deadline to file your 2018’s 1st Quarter IFTA Return is April 30th, 2018. A Quarterly IFTA Tax Return must be filed even if the licensee does not operate or purchase any taxable fuel in an IFTA member jurisdiction during the quarter.

 What you need:

  1. Mileage log-whether you use manual trip sheets, GPS, or electronic trip sheets; it is not only necessary to have in order to file your quarterly IFTA return, but you will need these if you are even audited.
  2. Fuel Receipts-you will need to know how many gallons of fuel were purchased in each state.

 

Options to prepare and file your return:

Continue reading

1st Quarter IFTA Fuel Use Tax is due this April 30

What is IFTA Tax?

The International Fuel Tax Agreement is a tax collection agreement by and among the 48 contiguous States and the 10 Canadian Provinces bordering the US. Uniform administration of motor fuels use taxation laws with respect to qualified motor vehicles operated in more than one member jurisdiction

Why TaxIFTA.com?

TaxIFTA.com is a product of ThinkTrade, Inc. who own and operate Tax2290.com (the #1 website to report Federal Vehicle Use Tax Form 2290 online) and TaxExcise.com (the only website to support all the Federal Excise Tax returns at one common place).

TaxIFTA.com is a simple and easy to use website, helps you prepare and print your “Ready to File” pdf return, file it with your base jurisdiction in just minutes.

This Self-Service website, enables to complete your Quarterly IFTA Tax returns in 3 simple steps. Accurate tax calculation by using the latest tax rates of all participating states. Continue reading

Important Records IFTA Tax Filers Should Maintain

IFTA is a quarterly tax paid by motor carrier owners having IFTA license and operating their vehicles from one state to another. Due on April 30th for the first quarter, It is important for motor carrier owners to pay their IFTA return on time and doing through an online service provider like TaxIFTA.com can help them prepare IFTA returns from anywhere and anytime. However, this fuel tax filers should make sure their records are accurate and safe to help them during an audit. Additionally, it has been clearly stated in the ‘IFTA Procedural Manual’ that IFTA filers need to maintain their mileage and fuel records properly. Besides, the International Registration Plan (IRP) and International Fuel Tax Agreement require the records for appropriate distribution of tax to the various jurisdictions. Read on to know more.

Records IFTA Filers should keep:

As mentioned, IFTA filers should keep a track of the complete mileage traveled for every vehicle used by him or her on the road. In addition, the information available in the records should be authentic to avoid any problems during an IFTA audit. The important records that tax filers should have are:

  • The Accurate Motor Carrier Name.
  • The Right Vehicle Number.
  • Accurate Vehicle Identification Number or VIN.
  • The distance traveled by the vehicle.
  • Complete details of the start and end date of every trip.
  • The origin and destination of every trip.
  • The pick-up and delivery destinations of the vehicle.
  • Details of the places where fuel was filled.
  • The travelling routes.
  • Total mileage used on the American states and Canadian provinces.
  • Total trip distance covered by the vehicles.
  • Original fuel invoices, which should include the date, customer name, seller name, gallons of fuels used, type of fuel, tax paid, and finally the OEN or VIN.

According to the International Fuel Tax Agreement , the records should be kept for four years from the time the tax return was filed or it was due. It is important for tax filers to know that the record keeping requirements might differ from one state to another. Therefore, tax filers are advised to gather the complete information to avoid mistakes. Similarly, as it is essential to maintain the records to avoid any hassles, filing IFTA on time can help tax filers avoid penalties and interests. TaxIFTA.com helps you prepare your IFTA tax accurately and without much difficulty. Take a step ahead by preparing your IFTA return online with a single click of a mouse.