It is quite normal to forget things that we do only few times a year, but the consequences of forgetting such things can be big. Remember the last time you forgot your spouse’s birthday or your wedding anniversary & the consequences faced. Alright, now wipe off that grin look on your face and keep reading to know about a fast approaching Tax deadline that can put you in a deeper trouble.
The International Fuel tax Agreement, commonly known as IFTA if is a Quarterly tax that is prepared and filed only four times a year. There are high chances that you may forget the deadline to report your IFTA taxes and end up paying penalties. The Third quarter IFTA taxes for 2016 are due by October 31st.
The International Fuel Tax Agreement (or IFTA) is an agreement between the lower 48 states of the United States and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. In simple terms if you operate your trucks in more than one state then you need to prepare and file an IFTA report.
Very few states have migrated to E-filing to report IFTA but majority of the states have still kept the complicated tax calculation part for you to figure out. Is there a simple way to report IFTA? Yes! There is,www.taxifta.com . That was your answer; keep your paper forms & calculators away. Log on to www.taxifta.com and prepare your IFTA reports and mail it in before October 31st.
Take our Tax Experts advice & support by calling 1-866-245-3918 or chat with them when you are on the application or write to them @ support@taxexcise.com .