Tag: international fuel tax agreement

A Helpful Guide For Tackling Your IFTA Renewals This Year

Posted on December 1, 2021 by - IFTA tax filing

Here at ExpressTruckTax, our team is all about helping you stay compliant and keeping your truck on the road. Whether that is by helping you file your Form 2290, or helping you stay ahead of other industry requirements. 

It is important that you renew your IFTA licensing for 2021 on time! Many states’ renewal deadline is December 31, 2021. 

With all the hustle and bustle of the holidays, we know how easy it can be to forget! So, we are breaking down the renewal process and providing all the information you need to get started!

A Crash Course in IFTA

Here’s a quick refresher. Get ready for a tongue twister! IFTA stands for International Fuel Tax Agreement. This was put into effect by the 48 states of the continental US and 10 Canadian provinces. 

This is basically just a way to make the fuel tax collection and interstate commerce reporting easier for everyone involved. 

Under federal law, you must abide by IFTA regulations if your vehicle is used, designed, or maintained for the transportation of persons or property, and at least one of the following is true: 

  • Has two axles and a gross vehicle weight (GVW) or registered gross vehicle weight (GVW) of more than 26,000 pounds
  • Has three or more axles regardless of weight
  • Is used in combination when the weight of such combination is more than 26,000 pounds GVW or registered GVW.

If your vehicle qualifies for an IFTA license, then your vehicle also qualifies for the IFTA renewal! 

Where Do I Start?

You should start with your base jurisdiction! Each year states send out a renewal packet, email, or some form of information to help you through the renewal process. 

If your deadline for renewal is December 31, 2021, then you should have already received this. 

If you haven’t already received your packet or email,  it’s time to give your state’s IFTA department a call. You can also check for renewal information on their website. 

Renewal Requirements

Most states will allow you to renew your license online through your IFTA portal. 

Generally, most jurisdictions will require that you have filed and paid for the last four quarters if you were operating before they will renew your license for the next year. 

The previous four quarters include: 

  • 2020, Quarter 4
  • 2021, Quarter 1 
  • 2021, Quarter 2
  • 2021, Quarter 3 

Now, listen closely, this is very important: your renewal must be completed, signed, and returned by the deadline to ensure that there is no delay in receiving your license and decals. 

Some states will offer drivers a grace period for displaying the new decals, but this is not true for every state. You will need to check with your jurisdiction to confirm this. 

IFTA is Easier with TruckLogics 

If you’re searching high and low for an easier way to keep track of your IFTA and create a file-ready report each quarter, you’ve come to the right place! Our sister product, TruckLogics, provides an affordable IFTA reporting solution and more!

With TruckLogics you can easily complete your IFTA reporting and take advantage of other great features designed to streamline your trucking business. 

What New Truckers Need To Know About IFTA Reporting

Posted on April 27, 2021 by - ifta fuel tax

If you are new to the trucking industry let us say congratulations!

There’s a lot to learn about how to manage all of the required trucking taxes and registration. Just for starters, you will need everything from Heavy Vehicle Use Tax, your IRP, and of course your IFTA quarterly fuel tax report. To help you get started here is what new truckers need to know about IFTA reporting.

What New Truckers Need To Know About IFTA Reporting

IFTA, or the International Fuel Tax Agreement, is an arrangement between 48 of the United States and 10 Canadian provinces to report fuel use by motor carriers that operate in more than one jurisdiction (state). The IFTA fuel tax redistributes fuel taxes equally among the jurisdictions.

To show you filed your IFTA return and pay the taxes owed by the deadline you will be issued an IFTA license and IFTA stickers. The license should be kept in your truck at all times and the IFTA stickers are displayed under your driver’s side window.

Vehicle Qualifications For IFTA Reporting

Your vehicle qualifies for IFTA reporting if it travels between more than one jurisdiction and:

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

IFTA Quarterly Fuel Tax Report Requirements

You are required to complete an IFTA report four times a year and file with your base jurisdiction (home state). Your base jurisdiction is where your qualifying vehicles are required to be registered and where your information is available in the event of an IFTA audit.

To complete your IFTA fuel tax return you will need to report:

    • The total miles traveled per jurisdiction including taxable and nontaxable, IFTA and non-IFTA, and trip permit miles
    • The total gallons of fuel consumed in each jurisdiction including taxable and nontaxable, IFTA, and trip permit miles
    • The number of gallons of fuel purchased per jurisdiction
    • The tax paid on each gallon of fuel purchased per jurisdiction
    • And the current tax rate per jurisdiction

File With The Best IFTA Software Available

Our sister product, ExpressIFTA makes IFTA reporting simple. Their IFTA software for reporting includes innovative features that let you upload your IFTA fuel tax information at your own pace. Upload your trip information as you go or all at once with each quick entry screen. You can even upload your miles from your fuel card.
 
Don’t worry about handling any complicated calculation yourself, because ExpressIFTA will automatically calculate IFTA fuel tax rates for you. And all of your information will be kept in an easy-to-read report that can be easily printed and used to complete your return.
 
Generate your IFTA report today!

New Year, Same Taxes: How To File Your IFTA Taxes

Posted on January 4, 2021 by - IFTA reporting

It’s a new year! That means New Year’s resolutions and new opportunities to grow.

The last thing you want to think about is the same old taxes.

Well… we’re here to remind you that despite all the new things, the 4th quarter IFTA fuel tax deadline is still coming up on February 1, 2021.

Sad? Don’t be. There’s a way to finish your IFTA reporting fast to avoid IFTA tax late penalties and interest. Here’s everything you need to know to generate your report in time.

Finish IFTA Reporting Before the Deadline

The International Fuel Tax Agreement

The International Fuel Tax Agreement was created to simplify fuel reporting by qualified vehicles operating in more than one jurisdiction.

You’re going to need to complete IFTA filing if you have a qualified vehicle, which is any vehicle designed, maintained, and/or used to transport people or property.

In addition, qualified vehicles have:

–  Two axles and a gross vehicle weight exceeding 26,000 pounds or
–  Two axles and a registered weight exceeding 26,000 pounds or
–  Three or more or
–  A combination weight exceeding 26,000 pounds.

Thanks to the International Fuel Tax Agreement, you’ll only have to file your IFTA tax with your base jurisdiction, which is where your vehicle is registered.

Each jurisdiction has different IFTA filing rules, so be sure to check this list. 

IFTA Reporting

IFTA reporting is filed 4 times a year with your base jurisdiction to ensure the proper allocation of fuel tax.

Keep track of your IFTA fuel tax mileage and fuel records to help IFTA reporting go smoothly each deadline.

To complete your IFTA fuel tax, you’ll need your business details, vehicle details, and miles & fuel records.

These records include:

–  Total miles (taxable and nontaxable) traveled in all states, regardless of whether or not they participate in IFTA, including all trip permit miles
–  Total gallons/liters of fuel consumed (taxable and nontaxable) in all states, regardless of whether or not they participate in IFTA
–  Total miles and total taxable miles traveled in each member jurisdiction
–  Total taxable gallons consumed in each member jurisdiction
–  Tax-paid gallons/liters purchased in each member jurisdiction
–  Current tax rates for each member jurisdiction This information is necessary for generating your IFTA tax return.  

Generate IFTA Reports Online

If this sounds like a lot of work, we’ve got a solution.

Simply generate your IFTA report online this quarter with ExpressIFTA, and then you can e-file with your jurisdiction in minutes.

ExpressIFTA is the sister product to ExpressTruckTax… in fact, if you have an ExpressTruckTax account, you already have one for ExpressIFTA!

Simply select the “IFTA” tab at the top of the home page, and log in with your ExpressTruckTax credentials.

With features like Trip Sheets, Quick Entries, and GPS Upload, you can upload fuel & mileage records quickly for multiple vehicles. You can even enter records into the system daily, weekly, monthly, or quarterly to update your IFTA tax return at any time.

Best of all, ExpressIFTA does all of the calculated IFTA tax calculations for you! No need to crunch the numbers old-school style.

This IFTA reporting software even checks for basic errors on your IFTA tax return. Time is running out. Generate your IFTA report online now through your ExpressTruckTax account!