By now you’ve probably realized that the 2nd quarter IFTA filing deadline was yesterday, July 31st.
Let’s be honest, who even knew there were 31 days in July anyway?
Don’t sweat it – missing the IFTA due date happens every IFTA filing quarter to tons of people.
Here’s what to do if you missed the 2nd quarter IFTA filing deadline.
Yikes, I Missed The IFTA Filing Deadline. Now What?
Understand The Penalties
The penalty for missing the IFTA filing deadline is $50 or 10% of your total tax, whichever is higher.
On top of that, you’ll be charged .4167% interest on your total tax monthly until the fuel tax is paid.
In addition, and here’s the real kicker, your base jurisdiction reserves the right to revoke your IFTA license.
Sounds terrible right? Well here’s the good news.
Avoid Those Penalties
You don’t need to go through all of that.
The penalties worsen the longer you wait to file your IFTA tax. Since the IFTA due date was yesterday, if you file your IFTA fuel tax today, the only fee you’ll pay is $50 or 10% of your tax.
Plus, in some cases, if you file immediately after the deadline, you can get your IFTA filing in before anyone even realizes it’s late and potentially avoid the basic fee.
Also, first-time IFTA due date offenders will probably not have their license revoked, especially if they can rectify the situation quickly.
Here’s a summary of what I’m saying – You need to file now!
You’ve realized your mistake and you have taxes on your mind, so what are you waiting for?
Knock out your IFTA fuel tax now before this gets out of hand.
File Your IFTA Fuel Tax Fast
You need a quick IFTA reporting solution, but don’t worry, we have a suggestion!
ExpressTruckTax has everything you could possibly need to file your IFTA fuel tax.
We’ll generate your IFTA report and take care of all the calculations for you, including total miles, gallons, miles per gallon, and IFTA tax amount.
We have all the tools you need to simplify the process, including bulk upload and a free IFTA tax calculator!
IFTA reporting doesn’t get any simpler.
Missing the IFTA due date happens, but excessive penalties don’t have to.
126 total views, 3 views today