Uh oh! Time is up. Today is the first quarter IFTA deadline! We hope you’re ready to file by midnight so you won’t have to deal with penalties from the IRS. Also, we hope that you aren’t freaking out while trying to get all of your calculations together. Simply take a deep breath and head to ExpressTruckTax to generate your IFTA totals in a matter of minutes.
Just in case you need a refresher, IFTA is the International Fuel Tax Agreement that includes the 48 contiguous United States and Canadian provinces. It’s designed to simplify the fuel use reporting for motor carriers that operate in more than one state. Before IFTA each state had their own regulations for fuel tax reporting and the process wasn’t fun.
You have to file a quarterly IFTA report to get your IFTA license and two decals if you have a qualifying motor vehicle that operates between two or more jurisdictions (states). Now a qualifying motor vehicle is a motor vehicle or combination of vehicles designed, used, or maintained for the transportation of persons or property with:
- Two axles and a gross weight exceeding 26,000 pounds
- Two axles with a registered weight exceeding 26,000 pounds
- Three or more axles, regardless of weight
- Or a combination weight of over 26,000 pounds.
Remember, recreational vehicles are exempt from IFTA and you file your report in your base jurisdiction. Your base jurisdiction is the state where your qualifying vehicles are registered, records of your vehicle are kept and can be made available in the event of an audit, and some mileage is accrued by your qualified motor vehicles within the fleet traveling in that jurisdiction.
So, what exactly do you need on your IFTA report?
- You need total miles traveled by your qualifying motor vehicles per jurisdiction including taxable and nontaxable, IFTA and non-IFTA, and trip permit miles.
- The total gallons of fuel consumed by your qualifying vehicles per jurisdiction including taxable and nontaxable, IFTA and non-IFTA.
- The total miles traveled per jurisdiction.
- The total taxable gallons of fuel consumed and purchased per jurisdiction.
- And the current tax rate per jurisdiction.
That may seem like a lot, but it's actually pretty easy and ExpressTruckTax can help. Simply use the fuel tax calculator to quickly figure out how much you owe, use the quick entry screen to enter your odometer readings, get your miles from your trip sheets automatically, and more.
Or use ExpressIFTA, the ExpressTruckTax IFTA program to enter your business details, base jurisdiction, vehicle details, and mile and fuel records to instantly have an IFTA report generated. This report will have your IFTA totals calculated so you can quickly use it to complete your IFTA return. This report can be email or printed to quickly be passed on to anyone who needs your totals too! Best of all, the step-by-step process only takes a few minutes to complete!
Why Not Handle Your HVUT Today Too?
Aren’t you tired of constantly dealing with taxes? First, your business taxes were due, then your personal taxes, now IFTA, and soon your HVUT is due! Head to our sister company, TSNAmerica to pre-file your HVUT to go ahead and knock it out.
All you have to do is call them at 803.386.0320 and they will file your HVUT for you. There has never been an easier way to handle your 2290.
Once you call them they will email you consent forms so you can give them permission to file your 2290 for you, and they will handle the rest. Your 2290 will be submitted on July 1st unless you would like for it to be transmitted on a later date. Plus, you’ll receive your Schedule 1 as soon as it’s stamped by the IRS.
We’re Here To Help
If you have any questions about anything truck tax related please don’t hesitate to contact the dedicated ExpressTruckTax support team. We’re available over the phone at 704.234.6005 from 8:30 AM to 6:30 PM EST Monday - Friday. You can also reach us via live chat and take advantage of our 24/7 email support at firstname.lastname@example.org.