Tag: IFTA reporting

What You Need to File Your IFTA Tax Return

Posted on October 16, 2020 by - IFTA reporting

Don’t forget about the 3rd quarter IFTA fuel tax deadline on November 2! To help you get this tax filed quickly, here is what you need to file your IFTA tax return online in a matter of minutes.

What You Need to File Your IFTA Tax Return

  • Total miles traveled per jurisdiction
  • The total amount of fuel purchased per jurisdiction
  • The total amount of fuel consumed per jurisdiction
  • The current tax rate per jurisdiction
  • The amount of tax paid per gallon of fuel per jurisdiction

Steps to E-File Your IFTA Quarterly Return

  1. Create ExpressTruckTax Account
  2. Enter Business Details
  3. Indicated Base Jurisdiction
  4. Enter Vehicle Details
  5. Miles & Fuel Records
  6. Generate Your IFTA Report
  7. File With Your Base Jurisdiction

When is the IFTA Due Date?

Your July through September records for the 3rd quarter IFTA deadline are due to the IRS by November 2, 2020 (because October 31 is a Saturday).

Quarter PeriodsReporting PeriodDue Dates
1st QuarterJanuary -MarchApril 30
2nd QuarterApril – JuneJuly 31
3rd QuarterJuly – SeptemberOctober 31
4th QuarterOctober – DecemberJanuary 31

Looking For an IFTA Software?

ExpressTruckTax‘s sister product ExpressIFTA is full of innovative features to help you complete your IFTA quarterly fuel tax report. All you have to do to get started is create your free account, enter your business information, specify your base jurisdiction, enter your vehicle details, list your miles and fuel records, and generate your IFTA quarterly fuel tax report.

Say goodbye to the days of complicated calculations. ExpressIFTA’s software will accurately calculate your IFTA fuel tax rates and IFTA tax based on the information provided. Never worry about over or underpaying again.

Plus, their built-in diagnostic error audit can be run on your reports to catch any fundamental filing errors based on your estimated miles per gallon. It will recognize when miles traveled aren’t between adjacent states, and if you purchased fuel in a state you have not traveled in.

Should I Report Reefer Fuel On My IFTA Return?

Posted on October 6, 2020 by - IFTA reporting

IFTA tax is a quarterly tax, meaning there are 4 IFTA deadlines.

The 3rd quarter IFTA deadline is November 2 – Are you prepared?

IFTA reporting covers a multitude of states, each with different rules.

So, what are the specific guidelines on reefer fuel and how do they affect IFTA filing?

IFTA Filing & Reefer Fuel

Reefer Fuel

A reefer is a refrigerated trailer or shipping container used for transport of temperature-sensitive cargo.

Refrigeration units that use reefer fuel are not taxed like other fuel.

The main takeaway is that reefer fuel is NOT included in IFTA filing when it is used to power the refrigeration unit of the trailer.

You should always purchase reefer fuel on a separate fuel receipt when fueling your power unit.

Pumping reefer fuel on the same fuel receipt will lower your MPG and cost you more IFTA fuel tax. Plus, in the event of an IFTA audit, you will be penalized and incur added interest.

IFTA Reporting Guidelines

You’re entitled to a tax refund on every gallon of reefer fuel purchased. To complete the federal tax refund form, you’ll need the total number of gallons purchased during the tax year.

In return, the IRS will send you a check for the amount of federal tax paid on each gallon.

If you forget to file for this refund, you can file up to 3 years back to claim it after the fact.

Before you start IFTA reporting, you’ll want to check with your base jurisdiction to see how they handle reefer fuel.

For instance, in some states if you have only one tank that both propels your vehicle and runs refrigeration, all fuel is included in IFTA fuel tax. If you have two separate containers, you’ll need to fuel separately and keep receipts.

Check with your base jurisdiction to make sure you understand their specific process for reefer fuel.

File IFTA Online

IFTA reporting can be tricky, but save yourself the time and headache when you file IFTA online.

ExpressIFTA will generate your IFTA fuel tax form for you, as well as accurate IFTA fuel tax calculations.

To file IFTA online, simply create a free account, enter your information, and generate your IFTA fuel tax form.

Then, all that’s left is to file your IFTA fuel tax with your base jurisdiction.

What You Need To Know About 3rd Quarter IFTA Rate Changes

Posted on September 24, 2020 by - IFTA fuel tax rates

IFTA tax rates change nearly every quarter. The 3rd quarter of 2020 is no different.

Several large jurisdictions have made significant changes. Some rates are up and some are down. Below we have listed everything you need to know about the 3rd quarter IFTA rate changes.

Check the list to see if your base jurisdiction has adjusted its IFTA rates.

3rd Quarter IFTA rate changes

 
  S.No.  State  Fuel Type IFTA Rate Changes 
 
 2nd Quarter 2020 3rd Quarter 2020  
 
 1. California Diesel .76 .795 
 
 2. Iowa Gasoline .305 .3 
 
 
 		 
 Gasohol .29 .3 
 
 
 		 
 Ethanol .29 .24 
 
 
 		 
 Methanol .305 .3 
 
 
 		 
 E85 .29 .24 
 
 
 		 
 M85 .305 .3 
 
 
 		 
 A55 .305 .3 
 
 
 		 
 Biodiesel .295 .301 
 
 3. Illinois Diesel .604 .611 
 
 
 		 
 Gasoline .524 .531 
 
 
 		 
 Gasohol .524 .531 
 
 
 		 
 Propane .6 .607 
 
 
 		 
 Liquid natural gas .604 .611 
 
 
 		 
 Compressed natural gas .483 .49 
 
 
 		 
 Ethanol .524 .531 
 
 
 		 
 Methanol .524 .531 
 
 
 		 
 E85 .524 .531 
 
 
 		 
 M85 .524 .531 
 
 
 		 
 A55 .524 .531 
 
 
 		 
 Biodiesel .604 611 
 
 4. Indiana Diesel .49 .51 
 
 
 		 
 Gasoline .3 .31 
 
 
 		 
 Gasohol .3 .31 
 
 
 		 
 Propane .49 .51 
 
 
 		 
 Liquid natural gas .49 .51 
 
 
 		 
 Compressed natural gas .49 .51 
 
 
 		 
 Ethanol .3 .31 
 
 
 		 
 Methanol .3 .31 
 
 
 		 
 E85 .3 .31 
 
 
 		 
 M85 .3 .31 
 
 
 		 
 A55 .3 .31 
 
 
 		 
 Biodiesel .49 .51 
 
 5. Massachusetts Propane .136 .178 
 
 
 		 
 Liquid Natural Gas .136 .178 
 
 
 		 
 Compressed Natural Gas .136 .178 
 
 6. Maryland Diesel .3745 .3705 
 
 
 		 
 Gasoline .367 .363 
 
 
 		 
 Gasohol .367 .363 
 
 
 		 
 Propane .367 .363 
 
 
 		 
 Liquid natural gas .367 .363 
 
 
 		 
 Compressed natural gas .367 .363 
 
 
 		 
 Ethanol .367 .363 
 
 
 		 
 Methanol .367 .363 
 
 
 		 
 E85 .367 .363 
 
 
 		 
 M85 .367 .363 
 
 
 		 
 A55 .3745 .3705 
 
 
 		 
 Biodiesel .3745 .3705 
 
 7. Michigan Diesel .373 .379 
 
 
 		 
 Gasoline .338 .371 
 
 
 		 
 Gasohol .338 .371 
 
 
 		 
 Propane .373 .379 
 
 
 		 
 Liquid natural gas .373 .379 
 
 
 		 
 Compressed natural gas .338 .371 
 
 
 		 
 Ethanol .338 .371 
 
 
 		 
 Methanol .338 .371 
 
 
 		 
 E85 .338 .371 
 
 
 		 
 M85 .338 .371 
 
 
 		 
 A55 .373 .379 
 
 
 		 
 Biodiesel .373 .379 
 
 
 		 
 Hydrogen .373 .379 
 
 8. Nebraska Diesel .293 .332 
 
 
 		 
 Gasoline .293 .332 
 
 
 		 
 Gasohol .293 .332 
 
 
 		 
 Propane .293 .332 
 
 
 		 
 Liquid natural gas .293 .332 
 
 
 		 
 Compressed natural gas .293 .332 
 
 
 		 
 Ethanol .293 .332 
 
 
 		 
 Methanol .293 .332 
 
 
 		 
 E85 .293 .332 
 
 
 		 
 M85 .293 .332 
 
 
 		 
 A55 .293 .332 
 
 
 		 
 Biodiesel .293 .332 
 
 9. New York Gasoline .405 .391 
 
 
 		 
 Gasohol .231 .217 
 
 
 		 
 Propane .405 .391 
 
 
 		 
 Ethanol .405 .391 
 
 
 		 
 Methanol .405 .391 
 
 
 		 
 M85 .405 .391 
 
 
 		 
 A55 .405 .391 
 
 10. South Carolina Diesel .22 .24 
 
 
 		 
 Gasoline .22 .24 
 
 
 		 
 Gasohol .22 .24 
 
 
 		 
 Propane .22 .24 
 
 
 		 
 Liquid natural gas .22 .24 
 
 
 		 
 Compressed natural gas .22 .24 
 
 
 		 
 Ethanol .22 .24 
 
 
 		 
 Methanol .22 .24 
 
 11. Virginia Gasoline .162 .212 
 
 
 		 
 Gasohol .162 .212 
 
 
 		 
 Propane .162 .212 
 
 
 		 
 Liquid natural gas .183 .239 
 
 
 		 
 Compressed natural gas .162 .212 
 
 
 		 
 Ethanol .162 .212 
 
 
 		 
 Methanol .162 .212 
 
 
 		 
 E85 .162 .212 
 
 
 		 
 M85 .162 .212 
 
 
 		 
 A55 .162 .212

What is the 3rd quarter IFTA deadline?

The 2020 3rd quarter IFTA reporting deadline is November 2, 2020, since October 31 is a weekend.

You need to generate your IFTA report before the deadline, file it with your jurisdiction, and pay your tax owed to avoid penalties.

Generate your report with ExpressIFTA

Our sister-product ExpressIFTA makes IFTA reporting easy! Their system takes all your mileage and fuel information and generates automatically calculated reports and/or worksheets that you can use to file with your base jurisdiction.

They take into account all IFTA rate changes for your base jurisdiction and calculates your owed tax for you. Plus, ExpressIFTA accepts bulk data upload from spreadsheets and GPS units, cutting down on your manual data entry!

Their cloud-based solution makes it possible to start entering your data now! Your data will be saved to your account so you can come back and finish at the end of the month.

Hurry! July 31 is the IFTA Filing Deadline!

Posted on July 23, 2020 by - IFTA reporting

In case it still hasn’t hit you, we’ll say it again: July 31st is the 2nd quarter IFTA filing deadline!

It’s important to file your IFTA tax return before the deadline to avoid major penalties. But don’t stress! There’s still a way to file your IFTA tax return in time.

ExpressIFTA handles all of your IFTA reporting needs online. 

With amazing features like our free IFTA tax calculator, you can generate your IFTA tax report quickly and use it to file your IFTA tax return.

Here’s everything you need to know in order to file by the IFTA filing deadline.

Hurry! July 31st is the IFTA Filing Deadline!

Do You Need To File IFTA Fuel Tax?

If you operate in two or more jurisdictions, you must have an IFTA sticker and license.

You are also required to file a quarterly IFTA fuel tax report calculating how much fuel tax you owe (or are credited).

IFTA reporting is necessary because, while state fuel tax would typically cover mileage traveled in a certain state, truckers frequently cross state borders. Therefore, where they purchase fuel isn’t always an accurate depiction of where they’re using it.

You’re required to participate in IFTA reporting if your vehicle has 2 axles and a gross vehicle weight or combined weight over 26,000 pounds, has 2 axles and a registered gross weight over 26,000 pounds or has 3 or more axles regardless of weight.

What Information Do You Need?

To complete your IFTA tax return, you’ll need the following information:

–  Total miles traveled per jurisdiction

–  Total gallons of fuel consumed per jurisdiction

–  Total tax paid/gallons of fuel purchased per jurisdiction

–  Current tax rate per jurisdiction

Calculating this information is easy with our free IFTA tax calculator.

All you have to do is select your base jurisdiction, choose the IFTA fuel tax quarter & fuel type, and enter miles traveled/fuel purchased for each state.

We’ll do the rest!

How to Complete Your IFTA Tax Return

ExpressIFTA makes generating your IFTA tax report before the IFTA deadline simple. Plus, with our free IFTA tax calculator, you’ll get all of your IFTA filing totals with 100% accuracy.

We’ll generate an easy-to-read quarterly IFTA tax report containing everything you need to complete your return before the IFTA deadline. Print, download, or email your information at any time!

Use our IFTA tax tools to help make your IFTA filing process simpler and quicker with ExpressIFTA, so that you can meet the IFTA deadline. 

Get A Move On! The IFTA Deadline Is Here!

Posted on January 30, 2020 by - 4th Quarter IFTA Deadline, ifta deadline, ifta fuel tax, ifta report, IFTA reporting

It really is that time again.

The 4th quarter IFTA deadline has arrived, and you need to report all your miles and fuel purchases from October 1 through December 31. 

The actual filing and payment for your taxes must be completed with your base jurisdiction.

However, when it comes to IFTA calculating and reporting, there’s no easier way to generate your IFTA report than with ExpressIFTA. 

IFTA reporting with ExpressIFTA

Generating a report with ExpressIFTA is as simple as entering information about each of your trucks and then entering the mileage and fuel for each. You can even bulk upload IFTA tax report information from your ELD, GPS, or spreadsheet.

ExpressIFTA will take your information and use its extensive, constantly-updated knowledge of IFTA tax changes to generate your IFTA tax report. The system will also check for common errors in your IFTA reporting.

Trucker using ExpressIFTA for IFTA fuel tax reporting

Then, you can use your new IFTA report to quickly and easily file and pay your IFTA tax with your base jurisdiction.

And the best part is you can use your existing ExpressTruckTax account information. Just go to expressifta.com and enter the email address and password you already use.

Use ExpressIFTA

ExpressIFTA is affordable, accurate, and easy to use. Generate your IFTA report today!

Need more help with ExpressIFTA?

Check out this handy step-by-step guide to generating your IFTA report with ExpressIFTA! It makes the process even simpler!