ExpressIFTA Blog

Friday, July 10, 2015

Fixing Common IFTA Mistakes

In our last blog, we told you all about the most common IFTA mistakes and how they can affect your IFTA return. Now, we’ll explain how to do so some damage control if you do happen to make one of those mistakes.

Luckily for you, most of these can be easily avoided with a few preventative measures, and if not, they can be easily fixed. Keep reading and we’ll go back over the most common mistakes and how to fix them.

Fixing Common Mistakes


Not Filing a Return if You Didn’t Operate: This can potentially be a costly mistake to fix depending on how long you wait, but on the bright side, outside of the potential cost, the fix itself is very simple. If you didn’t operate but plan to operate again in the future, you’ll need to file a zero return as soon as possible. If you are closing down operations for good, contact your base jurisdiction and ask them to close your account so you won’t need to file a return at all.

Not Keeping Fuel Receipts: This one’s an easy fix; if you aren’t keeping your fuel receipts or at least making copies of them, then start doing it! All you need is a specific place or method to keep them organized. You can try getting a small file folder for your truck, or you can get with the 21st century and start storing copies of your receipts electronically like we mentioned in the last blog, with our business management program TruckLogics. If you filed a return and are being audited without any receipt copies for proof, you can also use records from your bank account to prove the validity of those fuel purchases.

Thinking Your IFTA Account Has Closed: If you think your account has been closed but you aren’t entirely sure, the best thing to do is call and check with your base jurisdiction. Don’t ever assume anything! If you simply contact your base jurisdiction, they will be able to tell you the current status of your account and close it for you if need be. This way, you can be sure you won’t ever be required to file outstanding returns for quarters that you didn’t even operate!

Filing for Previously Unreported Mileage: Now here’s where things can get a little tricky. As you know, you are required to file for all interstate and intrastate mileage, including loaded, empty, deadhead, and/or bobtail miles. If you don’t, then there’s a good chance you’ve got an audit coming your way.

To avoid this mistake, the best solution is to find an easy and effective way to record all of your mileage. Some truckers like to do it the old fashioned way, and record it by hand, but if you are a forgetful person then we wouldn’t recommend this. There are other ways to keep track of your mileage, like using the ProMiles add-on in TruckLogics or another GPS system which can keep track of all your mileage automatically.

Filing Late: Of all the potential problems to have, please don’t let this be one of them. The deadline to file is on July 31, and all filers after that point will be subject to late penalties or interest on their tax owed. But since we just told you the deadline, you’ve got no excuse to be filing late. So if you haven’t filed already, head on over to ExpressIFTA and get started today!

A late-filed reports are subject to a late penalty of $50 or 10% of the net tax liability, whichever is greater. If the net tax liability is zero, then the late penalty will be $50. Interest is also compounded on all taxes owed after the due date at a rate of .4167% per month late until the amount due is paid.

Note: If you use ExpressTruckTax to file your Form 2290, then you won’t have to create an ExpressIFTA account. Simply log-in to your ExpressTruckTax account, and select the IFTA tab at the top of the page.
If you have any questions about your IFTA return, give us a call at 704.234.6005 or email us at support@expressifta.com.

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