Tag: ifta return

Prepare For The 4th Quarter IFTA Deadline Now!

Congratulations on another year behind the wheel! 2020 was a wild year for all of us (especially truckers). 

There’s no telling what 2021 will have in store for you as you keep on truckin’. We’re sure you’ve come up with some great new years resolutions. One resolution you should add is getting started on the 4th quarter IFTA deadline that’s coming up on February 1.

Prepare For The 4th Quarter IFTA Deadline

Your 4th quarter IFTA return is due in about a week 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.

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-product called 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.

Today is the 3rd Quarter IFTA Deadline

That’s right! Todays is the third quarter IFTA deadline. You will need to complete your IFTA return by midnight or you will have some major penalties to face. If this deadline snuck up on you and you’re wondering how you’ll ever make the deadline, don’t worry! 

Check out our awesome sister product, ExpressIFTA to easily handle all of your IFTA reporting needs online. You can quickly generate your IFTA report and use it to complete your return. Plus, we’re here to go over all the IFTA basics so you’ll be up to speed.

Today is the 3rd Quarter IFTA Deadline

Before we drive headlong into today’s IFTA reporting deadline, let’s review the basics of what you need to know.

What is IFTA?

If you are asking yourself “What is IFTA?” then you are in worse shape than I expected. But don’t worry I got you. The International Fuel Tax Agreement, or IFTA, quarterly fuel tax report allows you to travel in all participating member jurisdictions with a single fuel tax license. To operate in two or more jurisdictions, you are required to have an IFTA sticker and license.

You receive your IFTA stickers and license through you base jurisdiction which is your home state or where your vehicle is registered. Your IFTA license needs to be renewed annually in December. When you hold an IFTA license, you are required to file an IFTA quarterly fuel tax report that shows and calculated how much fuel tax you owe (or are credited) to remain compliant.

In short, IFTA is used to report and determine the net tax refund that’s due and to redistribute taxes from collecting states to due states. This agreement is between the lower 48 United States and 10 Canadian provinces, this regulation was put into place to simplify fuel reporting by those who use qualified motor vehicles.

Your vehicle qualifies for IFTA reporting if:

  • Has two axles and a gross vehicle weight exceeding 26,00 pounds
  • Has two axles and a registered gross weight exceeding 26,000 pounds
  • Has three or more axles regardless of weight
  • Or has a combined weight exceeding 26,000 pounds

To complete your IFTA report you need to provide the following information:

  • The total miles traveled per jurisdiction
  • The total gallons of fuel consumed per jurisdiction
  • The total tax paid gallons of fuel purchased per jurisdiction, and 
  • The current tax rate per jurisdiction 

File Your IFTA Fuel Tax Report

Our sister product, ExpressIFTA, makes it easy to import all of your IFTA information online in one convenient location. Use your IFTA reports to automatically calculate all fo your IFTA totals with 100% accuracy.

Your IFTA fuel tax rates will be generated in an easy-to-read quarterly IFTA report that contains everything you need to complete your return. Instantly print, download, or email your information at any time.

Today is the deadline for filing IFTA!! If you fail to file before midnight today you could be looking at major penalties.

September FUM 2290 Deadline

If you put a truck on the road in September 2020, your Form 2290 for that vehicle is also today, November 2, 2020!

File your 2290 in minutes with ExpressTruckTax!