ExpressIFTA Blog

Thursday, July 31, 2014

2nd Quarter IFTA Deadline is Today

Today is the day Trucking Nation, when your mileage and fuel consumption for April-June is due to your state jurisdiction, more commonly known as your 2nd Quarter IFTA Return. ExpressIFTA.com makes filing your IFTA return an efficient process where all you do is enter your trip information and we automatically calculate the tax due.

If you don't get your IFTA return filed on time there are some late penalties and we will go over them so you know exactly what to expect.

First let's quickly review the IFTA basics everyone filing IFTA returns should know...

The purpose of IFTA is to establish and maintain the concept of one fuel use license and one administering base jurisdiction for each license holder (also known as the licensee). Under IFTA, you only have to report to one state and the state allocates fuel tax payments.

A Quarterly IFTA Tax Return is required to be filed even if the licensee does not operate or purchase any taxable fuel in an IFTA member jurisdiction during the specific quarter. This is very important and can not be stressed enough: If you hold an IFTA license, a return must be filed each and every quarter, regardless if you operated or not. This should honestly be the IFTA Mantra - I must file my IFTA return even if I did not operate. When filing for a quarter you didn't operate in, you will simply enter '0' when filing the return.

OK now we got the basics out of the way, are you ready to go over the late penalties? They aren't that terrible, and it is always good to know what to expect if you are filing past the deadline.

A penalty if $50.00 or 10% of the net tax liability, whichever is greater, will be assessed on late-filing reports, failure to file, or for underpayment of tax due. If the next tax liability is zero or a credit, the late filing penalty will still be $50.00. To avoid a 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 the deadline.

Interest is computed on all delinquent tax due to each jurisdiction at a rate of .4167% per month. Even if you have a net refund, interest still applies to each jurisdiction for any underpayment of fuels use tax to that jurisdiction and is calculated beginning the day after the due date of the return for each month, or fraction of a month, until paid.

Definitely give the ExpressIFTA support team a call (or send an email) if you have any questions regarding IFTA filing. We already to help you out and we provide support in English, Spanish, and Russian! You can reach us via phone: 704.234.6005 or email: support@expressifta.com.


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Wednesday, July 30, 2014

Tomorrow Is The 2nd Quarter IFTA Deadline

Oh my Trucking Nation, the 2nd Quarter IFTA Deadline is tomorrow! You know what that means? It means you still have time to file your IFTA return. And you have ExpressIFTA.com  to help you get through the IFTA filing process quick, fast, and in a hurry. Well it does take a few minutes, but it is IFTA filing.

There are many benefits to using ExpressIFTA.com to create your IFTA return. I know you might be thinking - How can ExpressIFTA simplify IFTA filing and make my life easier? First we need to cast those doubtful thoughts out of your head and get you on the train to positive town. It's a great place, I promise you will never want to leave. Now let me fill you in on how ExpressIFTA can make the stress of IFTA filing disappear...

  •  ExpressIFTA is easy to use. Basically, if you can track your mileage (or have a handy GPS do it for you) and hold on to your fuel receipts, you can e-file an IFTA return. We provide multiple upload options so you don't have to enter each trip sheet by hand, and you can do it for multiple trucks at one time. 
  • There are no sign up costs and no monthly fees or contracts. That statement needs no further explanation; it is just perfect.
  • Our program automatically calculates the taxes owed accurately. You don't have to worry about the tax rate in each state jurisdiction, we take care of everything for you.
  • ExpressIFTA supports all 48 states that participate in IFTA. Why hassle with math calculations for the tax rate of each state when you don't have to? We also provide IFTA information for each state jurisdiction so you know how every state handles IFTA licenses, IFTA decals, quarterly filing and so much more!
  • 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.
  • And because we want you to always have an error-free return (who wouldn't right?), our system will run a diagnostic report to review any possible errors on the IFTA return based on the estimated Miles per Gallon. I do need to include this disclaimer: This audit of information does not guarantee that the IFTA return will be accepted. It simply checks for basic errors that could have other wise been overlooked. 
So if you are a die-hard, last-minute IFTA filer and are trying to find the best way to create your IFTA return, ExpressIFTA has got your back. If you have any questions about creating your IFTA return, GPS uploading, or anything IFTA related, give the ExpressIFTA support team a call. You can reach us via phone: 704.234.6005 or email: support@expressifta.com

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Tuesday, July 22, 2014

Don't Make These Mistakes On Your IFTA

Questions are bound to come up with it comes to IFTA filing. This is a good thing, because mistakes can happen very easily and the last thing you need is to have your IFTA return rejected or incur penalties for late filing. Here are some of the common mistakes you need to avoid when it comes to filing your IFTA return...






Meet Bob. He is a trucker who always has a long way to go and a short time to get there. Bob is new to the IFTA filing game and isn't too familiar with the rules. He had a friend tell him the basics of IFTA filing so he thinks he has it all figured out. Let's ask him some questions to see how much he really knows...







1. So Bob, do you need to file a quarterly return if you didn't operate?

Bob: No, If I didn't operate then I didn't buy any fuel, so I don't need to file IFTA this quarter.

Correct Answer: Actually Bob, you do need to file an IFTA return even if you didn't operate. It is a common mistake that IFTA license holders assume that if they do not operate they do not need to file. According to the All Mighty IFTA Regulations - if you hold a valid IFTA license, you are required to file a quarterly return by the deadline, even if no miles were traveled. You will simply file a zero return and no tax will be owed. 

2. Bob, do you need to keep your receipts for all your fuel purchases?

Bob: I throw them away after I get the information for my IFTA Return.

Correct Answer: Oh Bob, that's not what you do with your fuel receipts. You actually need to retain detailed fuel receipts or invoices for the time required by your state jurisdiction. If you are ever audited then you will need the receipts. Remember, motor carriers are required to keep IFTA tax returns, along with trip reports, fuel receipts and other supporting documentation for the amount of time required by your state jurisdiction.

3. Tell us Bob, do you report personal or unloaded miles on your IFTA?

Bob: No, I thought if I wasn't actually hauling anything then I didn't need to report the miles.

Correct Answer: Well Bob, according to IFTA requirements you must record all miles, whether loaded, empty or bobtail.

4. Last question Bob, can you include unreported miles from last quarter in your current IFTA return?

Bob: I thought you could, as long as the miles are reported somewhere-it should be OK.

Correct Answer: Unfortunately Bob, that is not the right answer. I'm surprised your not being audited right now. Many times carriers find themselves busier than a termite in a saw mill and end up preparing their quarterly taxes at the last minute and not including the last couple of trips in the quarter. The result is unreported miles being included in the following quarter. While there is no malicious intent, the fact remains that all miles traveled and gallons purchased in a quarter must be accurately reported. This simple misapplication can result with chaos in an audit.

Don't be a Bob and risk hefty penalties, fines, and audits.You can easily avoid making mistakes on your IFTA return by asking the right questions. If you are unsure about any part of the IFTA filing process, give ExpressIFTA a call at 704.234.6005 or send us an email at support@expressIFTA.com

Before you go...did you know you can have someone file your IFTA for you? Yes friends, our sister company TSNAmerica can file your IFTA returns, UCR registration, IRP, FMCSA Interstate Operating Authority, and every permit under the sun. Give them a call and see how they can make your life so much easier today - 803.386.0320. Email: support@TSNAmerica.com



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Thursday, July 17, 2014

A Procrastinator's Guide To Filing A 2nd Quarter IFTA Return

Bad habits are instilled in us all, and procrastinating is one of the worst. Waiting till the last minute to complete any task, not just your IFTA filing, is a difficult habit to break. When you are a part of the Trucking Nation, trucking comes first, so instead of providing you with tips on how to overcome your procrastinating ways, I have some tips to help you file when last minute filing is your only option.

The 2nd Quarter deadline to file your IFTA Return is July 31st. Considering that time frame from now until then, this moment would be considered 'last minute'. Your best bet to avoid late penalties is to file now or as soon as possible. There are a few options that would best benefit the last-minute IFTA filer: ExpressIFTA.com or TSNAmerica.com.

Option 1
You should already have all your information needed, you just need a few minutes to complete the form on ExpressIFTA.com. Here is a brief overview of required information for your IFTA return:
  • Your Mileage Log. This can be in the form of manual trip sheets, GPS, or electronic trip sheets. Your mileage log is not only necessary to file your quarterly IFTA return, but you will need it if you are ever audited.
  • Your Fuel Receipts. You will need to know how many gallons of fuel were purchased in each state. 
Once you have all the required information together, then you need to log into your ExpressIFTA account. Or if you have an ExpressTruckTax account, you can log in and simply select the 'IFTA' tab on the top right of your Dashboard page. Your next few steps are pretty easy:
  • Enter your mileage and fuel purchases. This information can be entered manually or uploaded form an excel file, or (my favorite option) uploaded directly from your GPS system. The last option saves a lot of time and headache.
  • Then you complete your IFTA filing by following the prompts to generate your IFTA return. The ExpressIFTA system will run a diagnostic report to review your return for any errors based on the estimated Miles Per Gallon. Upon completion of your IFTA return, there will be instructions listed on the return of how to transmit it to your base jurisdiction.
If you have any, and I mean ANY, questions along they way, please give us a call. Our USA-based support team can help you find a solution quickly so you can get your 2nd Quarter IFTA Return completed. You can contact us via phone: 704.234.6005 or email: support@expressifta.com 

Option 2
You do have one more option if time is not on your side. We have an amazing sister company - Truck Services of North America - will be more than happy to assist you. They can handle all your IFTA filing as well as anything else you would need to remain operational. Any type of permit, renewal, UCR, IRP, HVUT 2290, everything under the sun-they can take of it so you can keep on truckin'. You can contact TSNAmerica via phone: 803.386.0320 or 24/7email: support@TSNAmerica.com

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Tuesday, July 1, 2014

Time To File Your 2nd Quarter IFTA Return

Trucking Nation, it's time to file your 2nd quarter IFTA return. The deadline is Thursday July 31, but why wait when you can get it done now? ExpressIFTA.com allows you to create an IFTA return online in minutes in just a few easy steps:

1. Set up your account. It only takes a second to set up your account. All you will need to do is enter your basic business information, base jurisdiction, and IFTA license number.
NOTE: If you use ExpressTruckTax.com to file your Form 2290, then your IFTA account is already set. You would simply log into your ExpressTruckTax account and select the IFTA  tab at the top of the page.
Choose your unit of measurements for distance and fuel (miles, kilometers, gallons, liters, etc), then enter your truck information.

2. Enter Mileage and Fuel Purchased
Fuel information can be entered manually, uploaded from an excel file, or uploaded from your GPS system.
If you have records of your trips, and enter manually, all that is needed is the State, Odometer reading, and amount of fuel purchased for each trip.

3. Generate IFTA Return
The final step. The system will run a diagnostic report to review your return for any errors based on the estimated Miles Per Gallon. This audit of information doesn't not guarantee that that your IFTA return will be accepted, but it does check  for basic errors that could have been otherwise been overlooked.

ExpressIFTA will automatically calculate the amount of tax due based on all the data entered. And you simply follow the instructions to send the return to your base jurisdiction.

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