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Showing posts with label IFTA liscense. Show all posts
Showing posts with label IFTA liscense. Show all posts

Friday, December 29, 2017

Prepare For The 4th Quarter IFTA Deadline

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ExpressTruckTax simplifies truck taxes
Congratulations on another year behind the wheel. 2017 has been a crazy year for truckers with the ELD mandate. Plus, when hurricane Harvey and Irma struck truckers were greatly needed to provide relief for those affected by the storms.

There’s no telling what 2018 will have in store for you as you keep on truckin’. We’re sure you’re taking the time to think of the perfect resolution to start the year fresh. One way to do that involves getting started on the 4th quarter IFTA deadline that’s coming up on January 31.

Prepare For The 4th Quarter IFTA Deadline


Your 4th quarter IFTA return is due in about a month so we’re here to help you prepare for the deadline. If you need a little refreshing, IFTA is the International Fuel Tax Agreement put in place by the 48 contiguous United States and 10 Canadian provinces.

It was created in order to simplify the reporting of fuel used by qualifying motor vehicles that travel between at least two or more jurisdictions. The collected taxes are redistributed among the jurisdictions.

Your vehicle qualifies for IFTA reporting if it:
  • Has two axles and a gross vehicle weight exceeding 26,000 pounds 
  • Has two axles and a registered gross weight exceeding 26,000 pounds 
  • Has three or more axles regardless of weight 
  • Or has a combination weight exceeding 26,000 pounds. 
In order to comply with IFTA, you will apply for your IFTA license with your base jurisdiction or home state and keep it in your cab at all times. You will also receive two IFTA decals that you will need to keep on your driver’s side door at all times. Plus, you will need to complete your IFTA return four times a year.

You will need to provide the following information to complete your IFTA return:
  • Total miles traveled per jurisdiction 
  • Total gallons of fuel consumed per jurisdiction 
  • Total tax paid gallons of fuel purchased per jurisdiction 
  • And the current tax rate per jurisdiction. 
If you fail to complete your IFTA return you will have some penalties to face and they aren’t cheap. If you fail to file by the deadline you will face a penalty of $50 or 10% of the total amount due, depending on which amount is higher.
ExpressTruckTax knows ExpressIFTA generates accurate IFTA reports

Then you will face a monthly fee of .4167% of the tax due until you fully pay the amount you owe. States also reserve the right to impose their own penalties and revoke your IFTA license, which would park you!

Check out ExpressIFTA


But you don’t have to worry. ExpressTruckTax has a sister named ExpressIFTA that makes IFTA reporting incredibly easy online. You can track all of the totals you need to complete your return in one convenient location!

Plus, you can import all of your information all at once with the bulk upload feature and import all of your information at once. Also, you can import all of your mileage information directly from your GPS.

Best of all, all of your totals will be automatically calculated in a quarterly IFTA report that can be downloaded, printed, emailed, and used to instantly complete your IFTA return! It’s the fastest and most hassle-free way to handle IFTA.
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Wednesday, October 25, 2017

Do You Have An IFTA Waiver?

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ExpressTruckTax goes over IFTA pnelaties
Time really flies, doesn’t it? It seems like just yesterday it was a hot summer day and your 2nd quarter IFTA return was due. Well, now it’s a cold autumn day and the 3rd quarter IFTA deadline is almost here. You have less than a week to file by the October 31st deadline.

Because a lot has happened this IFTA quarter with hurricane Harvey and Irma you may have a few IFTA questions regarding the waivers. That’s why we’re here to help by going over them and answering other common IFTA questions that you may have, so you can quickly and easily file. 

Your IFTA Questions Answered


1. Will A Waiver Affect My Return?

Hurricane disaster relief efforts for hurricane Harvey and Irma depended on truckers to bring in crucial supplies, as a result regulations like hours of service were lifted and IFTA waivers were issued in some states. To qualify for these lifted regulations you needed to be transporting hurricane disaster supplies to affected areas.

States that issued IFTA waivers include Iowa, Georgia, Illinois, Tennessee, Alabama, Colorado, West Virginia, Wisconsin, New Jersey, Florida, and more.

Each waiver was different depending on the state, but generally, they suspended IFTA requirements for 30 days. Meaning you didn’t need your IFTA license or decals to travel through those states during the time of the waiver.

Delaware actually issued a temporary IFTA and IRP waiver from September 13th for the duration of the emergency or until October 6th, depending on which was less. Illinois's waiver was from July 14 to August 14th.

These waivers do not have an impact on the IFTA deadline. Your return is still due on October 31. However, the best way to find out information about waivers and the deadline for your base jurisdiction is to contact a local DMV office.

2. What Are The Late Filing penalties?

It’s best to go ahead and file to avoid facing the steep late filing penalties. For example, if your return is late you will face a penalty of $50 or 10% of the amount you owe, depending on which amount is greater.

Also, if you fail to pay the amount you owe by the deadline you will be charged .4167% of the total tax you owe. This amount will accrue on a monthly basis until you pay the total amount you owe.
 
Learn what's required to complete your IFTA return with ExpressTruckTax
Also, your base jurisdiction reserves the right to suspend or revoke your IFTA license if you file late. However, don’t worry, this usually isn’t the case for first-time offenders.

3. What Do I Need To Complete My IFTA Return?

In order to complete your return, you need your:

  1. Total miles, taxable and nontaxable, traveled per jurisdiction, including IFTA and non-IFTA miles, and trip permit miles. 
  2. Total gallons of fuel consumed per jurisdiction included taxable and nontaxable, and IFTA and non-IFTA. 
  3. Tax-paid gallons of fuel purchased per Jurisdiction. 
  4. And the current tax rate per jurisdiction. 

4. How Do I Prepare To File?
Use your ExpressTruckTax account information to log into ExpressIFTA where you can easily report everything you need for your IFTA return online. Enter your mileage and fuel records at your own pace and ExpressIFTA will do the complicated work for you.

For example, ExpressIFTA will accurately calculate the amount of fuel tax you owe for you. Plus, all of your information will be generated into an IFTA report that can be printed, emailed, and used to instantly complete your return.

ExpressIFTA is brought to you by the same team that created ExpressTruckTax and we are here to help. If you have any questions please don’t hesitate to contact our US-based, dedicated team of truck tax experts.

Give us a call at 704.234.6005 Monday - Friday from 9 AM to 6 PM EST. You can also reach us via live chat or through our 24/7 email support at support@ExpressTruckTax.com.
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