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
Category Archives: ifta
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 Your First Quarter IFTA Return Online Via TaxIFTA.com
Serving the nation is a noble job and truckers are indeed doing a fair job. However, that is not enough. Making deliveries and sharing a word of concern with your co-traveler is not nobility. Owning an IFTA license, paying your IFTA, and maintaining the trip sheet are included in the list of obligations. So if you are traveling through 48 jurisdictions listed under the agreement, you are liable to pay International Fuel Tax to your base jurisdiction on or before April 30th 2014. So what are you waiting for? Join hands with TaxIFTA.com and prepare your return online. We will help you in an error free preparation of IFTA. Continue reading
Prepare Your IFTA Return Online For The First Quarter By April 30th
Welcome filers, a very warm welcome to our blog. Each week when we come up with a topic to write on, we think every aspect related to you and ensure our blog is interesting enough for you all to read through. Today, however, we are here with updates rather than mere information. Yes, you read it right. The update is for truckers, owner operators, and qualified motor carriers, who commute through the 48 jurisdictions with their IFTA license and a decal on their truck. IFTA due date is falling on April 30th, which means you have exactly 9 days in hand to prepare and paper file your return to your base jurisdiction. Continue reading
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
Are You Looking For Clear Explanation On IFTA Jargons? We Will Help You
Hello IFTA filers, welcome to our blog. With the IFTA due date right around the corner, we would like to pass on a gentle reminder for all IFTA filers. The due date is just 3 weeks away, 30th April 2014 is the date to file your IFTA return for the first quarter of 2014. The method you choose is absolutely your call, however, we give you a chance to prepare your IFTA return online, eliminating the errors and making it time efficient. Continue reading
Fix These Common IFTA Fuel Tax Mistakes for Safer Filing
A big welcome to our blog, IFTA filers. As carriers, you would be navigating through the roads all the time, but when it comes to navigating your IFTA fuel tax liabilities, we always tend to take the wrong turn.
Over the years, we have noticed that the tedious paper work and regulations are hard on you, and keeping them up is another task in hand. However, today we would speak about the most common errors committed by our filers when it comes to IFTA fuel tax reporting: Continue reading
Stay on Your Toes for IFTA Audits in Manitoba – Part- II
Hello IFTA filers, hope you’re pink of health. Sometime back, we had shared a blog post on “Stay on Your Toes for IFTA Audits in Manitoba – Part- I”, and today we would post the second half of the blog. We hope we are informative enough to keep your eyes glued to the screen.
The second list of questions is right below keep reading to know more. Continue reading
Stay On Your Toes For IFTA Audits In Manitoba – Part- I
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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