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Saturday, August 6, 2011

Organizing IFTA Fuel Tax Information with Express Truck Tax

The term IFTA refers to the International Fuel Tax Agreement. This agreement makes certain vehicles liable for a Fuel Tax for each state in which the vehicle was driven. IFTA is a tax collection agreement among the 48 contiguous United States and the 10 Canadian Provinces bordering the US.

Recording and Organizing the information required is a very precise and exacting task, but thanks to Express Truck Tax, there is now a much simpler web-based process. Vehicles required to prepare an IFTA return must keep track of miles traveled and fuel purchased within each state or province. Due to the complicated task of keeping accurate records, and filing this form appropriately many less than fortunate drivers receive IRS audits because information on their IFTA return was not properly entered.

As mentioned earlier, Express Truck Tax, along with providing a terrific service for other Truck Tax needs IRS Form 2290, will perform an internal audit of your information for you. In this internal audit performed by Express Truck Tax, it will check for basic mistakes and discrepancies, as well as perform a state adjacency check and an abnormal MPG audit. They also provide online trip sheets for drivers to keep accurate records that can be accessed from any computer, anywhere!  If you can prevent an IRS audit due to simple mistakes on an IFTA return, it makes no sense not to. Let Express Truck Tax help get it right the first time.

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