ExpressIFTA Blog

Thursday, June 27, 2013

Colorado IFTA Filers


Colorado IFTA Filers, be advised, as of 2nd Quarter 2013, the Colorado Department of Revenue has discontinued the Quarterly Fill-In IFTA Tax Report (DR 0122).  You can now E-File your Quarterly return online through Revenue Online.

Prepare your IFTA report with ExpressIFTA, an industry leader offering truck tax solutions with the best value and pricing in the trucking industry. With ExpressIFTA entering your mileage and fuel details has never been easier. There is no cost to sign up and there are no monthly fees or contracts with ExpressIFTA.

Our program provides accurate fuel tax calculation and we support all 48 states that participate in IFTA.  This will eliminate the most common errors that occur with the IFTA Quarterly Tax Return, which are mistakes in math calculations. Our simple entry for odometer readings and the ability to maintain distance and fuel records online, makes it easy to keep track of your mileage and fuel purchases.  If you have any questions, please contact our friendly Express Tax Support Center in Rock Hill, SC  at 704.234.6005 between the hours of 8am – 6pm EST, Monday through Friday or email us at support@ExpressIFTA.com. We have Spanish Support too!
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Monday, June 24, 2013

Get Prepared To File 2nd Quarter IFTA


The filing period for 2nd IFTA Quarter opens one week from today on July 1, 2013.  The deadline to file your 2nd Quarter IFTA return is July 31, 2013.  Prepare now to avoid rushing around at the last minute.

What is Required?
The following information is required on the IFTA quarterly tax return:
  • Total miles, taxable and nontaxable, traveled by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA, including trip permit miles;
  • Total gallons of fuel consumed, taxable and nontaxable, by the licensee’s qualified motor vehicles in all jurisdictions, IFTA and non-IFTA;
  • Total miles and taxable miles traveled in each member jurisdiction;
  • Taxable gallons consumed in each member jurisdiction;
  • Tax-paid gallons purchased in each member jurisdiction; and
  • Current Tax Rates for each member jurisdiction.

Our program provides accurate fuel tax calculation and we support all 48 states that participate in IFTA. This will eliminate the most common errors that occur with the IFTA Quarterly Tax Return, which are mistakes in math calculations. Our simple entry for odometer readings and the ability to maintain distance and fuel records online makes it easy to keep track of your mileage and fuel purchases.

If you already use Express Truck Tax to file your Form 2290, there’s no need to set up another account. When you log into your ExpressTruckTax account, you will see an IFTA button at the top of the page. Select this option, and click Go to IFTA. This will automatically register you with an ExpressIFTA Account. To Get Started, Click Begin. If you have not yet used our program, simply create an account with ExpressIFTA, all you need to do is enter basic information about the filing party such as contact information and EIN. You will also be asked to enter your base jurisdiction and IFTA license number.

To get started simply create an account and begin entering your trip sheet information. If you have any questions along the way, please do not hesitate to contact our friendly US-based IFTA Fuel Tax Team at 704.234.6005 or email us at support@expressIFTA.com.
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Thursday, June 20, 2013

Using ExpressIFTA From Your ExpressTruckTax Account


 

ExpressTruckTax really is a one-stop-shop for all your truck tax needs. Although we have become well known for E-Filing the Form 2290 for Heavy Vehicle Use Taxes, you can also use our sister site - ExpressIFTA to complete your IFTA returns.

After logging into your ExpressTruckTax account, you will see an IFTA button at the top of the page. If you select this option, you will see a brief introduction for ExpressIFTA. To Continue, click Go To IFTA

This will automatically register you with an ExpressIFTA Account. To Get Started, Click Begin. This can save you a lot of time because your business information is automatically brought over from ExpressTruckTax. Once you are logged in, you can follow the simple Step-by-Step instructions to complete your IFTA return in minutes!

If you have not yet used our program, simply create an account with ExpressIFTA, all you need to do is enter basic information about the filing party such as contact information and EIN. You will also be asked to enter your base jurisdiction and IFTA license number.

To find out more about IFTA filing or get started today, contact our friendly Express Tax Support Center in Rock Hill, SC  at 704.234.6005 between the hours of 8am – 6pm EST, Monday through Friday or email us at support@ExpressIFTA.com.
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Monday, June 17, 2013

Be Prepared For IFTA Audit


Base jurisdictions are required to audit 3% of the IFTA accounts that are required to report per year, excluding new accounts.  You can prepare yourself by keeping accurate records.

Supporting Documents Required:
  1. Completed copy of a driver trip record or trip sheet from one of the 12 most  recent quarters.
  • Date of the trip (starting and ending)
  • Trip origin and destination
  • Route of travel and/or beginning and ending odometer or hubometer reading of the trip
  • Total trip miles or kilometers
  • Miles/kilometers by jurisdiction
  • Unit number or vehicle identification number
  • Vehicle fleet number
  • Registrant's name
  • Trailer number
  • Driver’s signature and/or name
  • Fuel Purchases
  1. Copy of an actual Over-the-Road fuel receipt.
  2. Completed copy of a bulk fuel withdrawal log, if applicable.
  3. Copy of monthly or quarterly summary, if applicable.
  4. Detailed equipment list including the make, model, and gross weight for IFTA qualified units.

Your Distance Records should include taxable and non-taxable fuel use, distance traveled for each, and distance traveled in each jurisdiction.

Fuel Records should include date of receipt, name and address where fuel was purchased, number of gallons purchased, and fuel type.  Separate records must be kept for each fuel type and bulk fuel purchases.  If you operated under a trip permit, keep a copy of that permit and do not record those fuel purchases on your IFTA report.

You want to be sure that your reports are accurate and legible, including your fuel receipt copies.  All information needs to be complete with no gaps between mileage. Incomplete, inconsistent or illegible records may require you to produce secondary documents.

You are required to keep your records for 4 years from the return due date or filing date, whichever is later, plus any time period included as a result of waivers or jeopardy assessments. If a licensee fails to provide the required records for audit, the 4 year retention requirement is extended until the required records are provided.

It is well worth the time to get a good recordkeeping system in place and to maintain those records on a consistent basis.  This is vital in determining how the audit process will play out, should you ever find yourself in that situation.

ExpressIFTA is an industry leader offering truck tax solutions with the best value and pricing in the trucking industry. With ExpressIFTA entering your mileage and fuel details has never been easier. There is no cost to sign up and there are no monthly fees or contracts with ExpressIFTA.

Our program provides accurate fuel tax calculation and we support all 48 states that participate in IFTA.  This will eliminate the most common errors that occur with the IFTA Quarterly Tax Return, which are mistakes in math calculations. Our simple entry for odometer readings and the ability to maintain distance and fuel records online, makes it easy to keep track of your mileage and fuel purchases.  If you have any questions, please contact our friendly Express Tax Support Center in Rock Hill, SC  at 704.234.6005 between the hours of 8am – 6pm EST, Monday through Friday or email us at support@ExpressIFTA.com. We have Spanish Support too!
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Thursday, June 13, 2013

Zero Operations IFTA Return If No Miles Travelled


A Quarterly IFTA Tax Return must be filed even if the licensee does not operate or purchase any taxable fuel in an IFTA member jurisdiction during the specific quarter.  If you hold an IFTA license a return must be filed each and every quarter, regardless if you operated or not.  

Failure to to file your return could result in applicable penalties and interest.  When a licensee fails to file a return, files a late return, or fails to remit any or all tax due, the licensee is subject to penalty and interest. The penalty is the greater of $50.00 or 10% of the net tax due to all member jurisdictions. Interest is computed on all delinquent taxes due each jurisdiction at a rate of 1% per month. The Department will assess interest for a full month.

If a licensee does not operate or purchase taxable fuel, simply enter “0” when filing the return.  Many states offer electronic IFTA filing, to find out if your state offers IFTA E-Filing, click here.

ExpressIFTA makes it easy to maintain the records required for your IFTA return.  To find out more about IFTA filing or get started today, contact our friendly Express Tax Support Center in Rock Hill, SC  at 704.234.6005 between the hours of 8am – 6pm EST, Monday through Friday or email us at support@expressIFTA.com.
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Monday, June 10, 2013

Prepare Your IFTA Return Using ExpressIFTA


 
ExpressIFTA is here to help take the hassle out of preparing your IFTA fuel tax return. We are an industry leader offering in offering truck tax solutions with the best value and prices in the trucking industry. With ExpresIFTA you can quickly and easily keep track of your mileage, fuel purchases and more at no charge - you pay only when we prepare your IFTA fuel tax return. You can choose to enter your information throughout the quarter by trip sheet or through our quick entry system.

After you have entered your mileage and your fuel purchased for the quarter, you can click on ‘Continue IFTA Return.’ You will be given a couple options, if they apply, click ‘yes’ and they do not, simply click ‘continue.’

You will see the current tax due, penalties and/or credits, then click ‘Save and Continue.’  ExpressIFTA walks you through the process step by step. To find out more about IFTA filing or get started today, contact our friendly Express Tax Support Center in Rock Hill, SC  at 704.234.6005 between the hours of 8am – 6pm EST, Monday through Friday or email us at support@expressIFTA.com.

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Thursday, June 6, 2013

Required Information For IFTA Fuel Records


Complete fuel records of all motor fuel purchased, received, and used in the conduct of its business must be maintained. Separate totals must be compiled for each motor fuel type and retail fuel purchases and bulk fuel purchases are to be accounted for separately.

The fuel records shall contain, but not be limited to:
  • The date of each receipt of fuel;
  • The name and address of the person from whom purchased or received;
  • The number of gallons or liters received;
  • The type of fuel; and
  • The vehicle or equipment into which the fuel was placed.

Retail purchases must be supported by a receipt or invoice, credit card receipt,
automated vendor generated invoice or transaction listing, or microfilm/microfiche of the receipt or invoice. Receipts that have been altered or indicate erasures are not accepted for tax-paid credits unless the licensee can demonstrate the receipt is
valid. An acceptable receipt or invoice must include, but shall not be limited to, the following:
  • Date of purchase;
  • Seller's name and address;
  • Number of gallons or liters purchased;
  • Fuel type;
  • Price per gallon or liter or total amount of sale;
  • Unit numbers; and
  • Purchaser's name

A licensee may claim a tax-paid credit on the IFTA tax return for bulk fuel only
when the bulk storage tank from which the fuel is withdrawn is owned, leased or
controlled by the licensee; the fuel is placed into the fuel tank of a qualified motor
vehicle; and either the purchase price of the fuel includes tax paid to the member
jurisdiction where the bulk fuel storage tank is located or the licensee has paid
fuel tax to the member jurisdiction where the bulk fuel storage tank is located.

Bulk fuel records must contain the following:
  • Date of withdrawal;
  • Number of gallons or liters;
  • Fuel type;
  • Unit number; and
  • Purchase and inventory records to substantiate that tax was paid on all bulk purchases.

Maintaining good records will help you should you ever undergo an IFTA audit and it makes preparing your IFTA returns even easier.

ExpressIFTA enables you to prepare your IFTA return quickly and easily.  To get started today go to ExpressIFTA.com or contact our friendly US based Express Tax Support Center in Rock Hill, SC  at 704.234.6005 between the hours of 8am – 6pm EST, Monday through Friday or email us at support@expressIFTA.com.
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Monday, June 3, 2013

June is final Month of IFTA 2nd Quarter


June is the final month in the 2nd Quarter and the deadline to file 2nd Quarter IFTA Returns is July 31, 2013.  To help you prepare your return here are the answers to some of the common questions about IFTA.

What is IFTA?
IFTA is the International Fuel Tax Agreement. This is an agreement between the 48 contiguous US states and 10 Canadian provinces in place to report and maintain fuel taxes.

Who qualifies for an IFTA license?
You will need an IFTA license and you must file fuel tax returns if you travel in two or more member jurisdictions and your vehicle weighs more than 26,000 pounds or if the vehicle has three or more axles regardless of the weight.

Why should I register for IFTA?
IFTA offers several advantages to interstate motor carriers who operate in two or more member states or provinces. Under IFTA, you will:
  • Choose one IFTA-member state or province as a "base jurisdiction",
  • Obtain a single fuel tax license for all of your qualified motor vehicles, authorizing them to travel in all IFTA jurisdictions; and
  • File only one tax report each quarter with your base jurisdiction, reporting your fuel usage and mileage for all IFTA member states and provinces.
  • Your fuel tax records will generally be audited only by your base jurisdiction.

Which taxes does IFTA cover?
IFTA covers fuel taxes only. It does not cover road taxes, weight mileage taxes, or any other jurisdiction specific taxes. You must continue to pay these taxes directly to the jurisdictions in which you travel.

Which fuels does IFTA cover?
Under IFTA, you must generally report information on all fuels used to power your qualified motor vehicles. However, reporting requirements for fuel used in each jurisdiction are based on that specific jurisdiction's laws and may vary.

What are the fuel tax rates for IFTA jurisdictions?
You may view, print, or download the fuel tax rates for all IFTA jurisdictions at http://www.iftach.org.

What fees must I pay under IFTA?
The fees vary from state to state, check your state for their specific fee.

What credentials will I receive?
You will receive one IFTA license for your business and two decals for each qualified motor vehicle in your fleet. One decal must be placed on the exterior portion of the cab's passenger side. The second decal must be placed in the same position on the driver's side. Decals are obtained annually at the time of renewal for all qualified motor vehicles.  You are required to make copies of the license so that one copy is carried in each qualified motor vehicle.

When are IFTA reports due?
Under IFTA, you are required to file quarterly fuel tax reports. The reporting quarters and due dates are:

Reporting Quarter
Due Date
January - March
April 30
April - June
July 31
July - September
October 31
October - December
January 31

To avoid penalty for late filing, the tax reports must be postmarked no later than midnight on the date indicated. If the last day of the month falls on a Saturday, Sunday or legal holiday, the next business day will be considered as filed timely.

Do I file a quarterly fuel tax report if I didn't run during the quarter?
Yes, you must submit a "zero" report even if no taxable fuel was used.

What is the penalty and interest rate for filing a late quarterly fuel tax report?
A penalty of $50.00 or 10% of the net tax liability, whichever is greater, will be assessed on late-filed reports, failure to file, or for underpayment of tax due. If the net tax liability is zero or a credit, the late filing penalty will still be $50.00. To avoid penalty for late filing, the tax reports must be postmarked no later than midnight on the date indicated. If the last day of the month falls on a Saturday, Sunday or legal holiday, the next business day will be considered as filed timely.

Interest is assessed on all delinquent taxes due each jurisdiction. The interest rate is 1% per month. Interest will be calculated from the date the tax was due for each month or fraction of a month until paid.

How do I obtain a return?
Most states furnish reports each quarter indicating the current tax rates for each member jurisdiction. Failure to receive the tax report does not relieve you from the obligation of filing in a timely manner or submitting the reports.

What records will I need?
You must maintain records that will adequately document all of the information you provide on your quarterly fuel tax reports. You must document all miles you travel - including the date of your trip, route of travel, total trip miles, and miles traveled in each jurisdiction. You must also keep all receipts for fuel you buy and place into your vehicles. If you maintain a bulk fuel storage facility, you must maintain additional records.

My IFTA License expires December 31, but I've heard there is an extension until February 28. Is this true?
Yes. You have until March 1 of each year to carry a current IFTA license and display the current year's decals on your vehicles, provided you have applied on time to renew your IFTA license.

To get started simply create an account at ExpressIFTA.com and begin entering your trip sheet information. If you have any questions, please contact our US based Express Tax Support Center in Rock Hill, SC at 704-234-6005 or email us at support@ExpressIFTA.com.
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