ExpressIFTA Blog

Monday, October 26, 2015

IFTA Late Fees & Penalties

Hello, Trucking Nation! The 3rd quarter IFTA filing deadline of October 31st is fast approaching. If you haven’t filed your IFTA return yet, there’s still time. But what happens if you miss the deadline? Does the Taxman come knocking on your door? Well, it’s not quite that bad, but there are several consequences to either filing a late IFTA return or not filing one at all. Let’s look at what can happen.

IFTA Late Filing Penalty

The first thing that will happen is you’ll be assessed a late filing penalty. This is applied whether you owe taxes or not for the filing period. This penalty is $50 or 10% of the tax that you owe, whichever is greater. If you don’t owe any tax for the filing period, the penalty will be $50.

As we’ve already stated, the deadline for the 3rd quarter filing period is October 31st. Since that falls on a Saturday this year, you won’t have to have your return in until Monday November 2nd. Your return must be postmarked by midnight that night to be considered on time.

Late Tax Payment Penalty

If you owe taxes and don’t pay those on time, you will be assessed a late tax payment penalty. The penalty is calculated as .4167% of the tax owed to each jurisdiction you drove in for the filing period. This is figured per month starting on the day the return is due.

If you think those penalties sound harsh, some states actually revoke your IFTA license if your return is not filed on time! This usually only happens in cases where multiple returns have not been filed, but technically your IFTA license may be revoked for being late just once. And you won’t be eligible to renew your IFTA license until those taxes are paid in full.

As you can see, it’s important to file your IFTA return on time. So don’t forget to file. And since the deadline is so close, your best bet is to e-file with Your calculations and filing can be done in minutes and you’ll be back on the road where you need to be.

We’re Here for You

You can also use Truck Services of North America (TSNAmerica), a full service trucking processing agency, to file your IFTA return. TSNAmerica not only will file your IFTA return for you, it provides the tools you need to run a transportation business. Both TSNAmerica and ExpressIFTA are backed by our world-class locally-based support team. You can reach our ExpressIFTA team at 704.234.6005 Monday through Friday from 8 a.m. to 6 p.m. and via live chat during the same times. You can also reach us at any time.

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