Tag Archives: IFTA License

IFTA Zero return – A Brief Introduction

In life most of the important decisions are not made by us. So True, isn’t it? If you hold an IFTA license and do not report your IFTA on time you are liable for Penalties & Interests, this is a known fact. Another unknown fact is you need to file an IFTA report even if you have no taxable miles in that particular quarter. This is known as a “ZERO RETURN”. Continue reading →

IFTA Penalties for Late & Not filing

Filing your IFTA return on time is very important and TaxIFTA.com is dedicated in helping you Prepare your IFTA return online. Filling out any paper work for taxes manually is not that easy as we all think, especially when it involves a lot of calculations mostly in cents. IFTA penalty is one thing that most taxpayers have no idea about. Continue reading →

Tidbits About IFTA

So filers, how’re you doing? We are in the third quarter of the calendar year and this October end would be the last date for reporting IFTA to your base jurisdiction. Today, we are going to discuss IFTA in general for better understanding.

So Let’s Get Started, What Is IFTA? Continue reading →

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 →

Time To Test Your IFTA Knowledge

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 →

Important Records IFTA Tax Filers Should Maintain

Leave a reply

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.

What to Know When Preparing for IFTA Tax Return

Leave a reply

If you have read the previous blog on ‘A Short and Simple Guide to the International Fuel Tax Agreement’, then you might have understood what IFTA stands for along with the way it works. However, to learn about its ins and outs and the various aspects involved within it, make sure to read this blog providing additional information about thefuel taxreturn.

How to Get an IFTA License:

Individuals, whose qualified motor vehicle operates in any of the United States or Canadian Provinces qualify for an IFTA license. Moreover, there are certain requirements that vehicle owners have to fulfill for getting the qualified vehicle tag. Generally, vehicles that are used for transporting of goods and people come under the qualified vehicle criteria but there are additional aspects attached to it such as:

  • The vehicle has at least three or additional axles
  • The vehicle has at least two axles or has been registered under the gross weight of more than 26,000 pounds
  • Vehicles that come under the registered gross weight of 11,797 kg but should meet the specific requirements

However, in certain states there are few exemptions on qualified motor carriers. For example, recreational vehicles (in spite of their weight or axle configuration) that are not used for business purposes are not considered as a qualified motor vehicle.

Why to Register for IFTA:

Vehicle owners whose motor carrier operates in more than one states coming under theIFTA jurisdiction, should:

  • Decide on one of the International Fuel Tax Agreement member states as their ‘base jurisdiction’
  • Acquire fuel tax license for the various qualified motor vehicles so that they get the authorization to travel within the IFTA jurisdiction.
  • Vehicle owners need to prepare and file their IFTA return every quarter, where they need to report the usage of fuel and mileage used in the IFTA state and provinces.

When to File for IFTA:

Vehicle owners who qualify for IFTA license need to file for tax returns quarterly. The due dates to file for the International Fuel Tax Agreement are as follows:

January to March (April 30th)

April to June (July 31st)

July to September (October 31st)

October to December (January 31st)
It is advisable to prepare and file for the International Fuel Tax Agreement return before the time expires to avoid the penalties. We at TaxIFTA.com help you prepare your tax return, thus helping you reduce the stress and hassle.

Whether you have a suggestion for us or need an answer for your query. Call us at 1-866-245-3918 to help us serve you better.