ExpressIFTA Blog

Friday, April 15, 2016

5 Fuel Tax Mistakes You're Already Making

With April having your personal income tax deadline and your 1st Quarter IFTA deadline, it sure seems like a doozy.

And other than suggesting deductions or a tax extension, we can’t help you too much on your personal taxes.

But we can guide you on generating your fuel tax with efficiency.

Unfortunately, when it comes to taxes, there are always mistakes to be made.

So are you already making these five fuel tax mistakes?

You Are Missing Fuel Receipts


Let’s not beat around the bush—receipts can pile up over time. Sometimes you just want to crumple them up and toss them out. But let’s not do that! Keeping track of your receipts is vital for recordkeeping.

We don’t think anybody likes receipts, but we like to keep them organized. Proper recordkeeping is the key to an easy IFTA filing.

So get a file storage system in your truck, or take it a step further and use trucking management software to store them online.

You Track Your Miles Wrong


I mean, things were easier when we used log books. But these days, with the ELD mandate and computers taking over, it can be tough to just operate the required devices.

But you still need to get your Trip Sheets recorded after every haul. After all, Trip Sheets are an easy way to record and add miles to ExpressIFTA.

The nice thing is, you can always find an easy-to-use trucking management software that generates and uses trip sheets.

Just make sure you’re recording the right mileage...

You Leave Miles Unreported


Recording mileage is a big deal for fuel taxes. It’s only half the process of IFTA!

It goes without saying that you need to file for all interstate and intrastate mileage, which includes loaded, empty, deadhead, and bobtail miles.

If you ignore the detailed mileage, there’s a good chance you’re gonna get audited.

Sometimes, a trucker may be in a hurry to get their IFTA report generated, and they may glaze over the last couple trips they made, resulting in some unreported mileage.

Unfortunately, those miles can’t be added next quarter. Adding them from a previous quarter will add up and most likely result in an audit!

So make sure you monitor and record the miles you drive.

And you can’t just record from the dispatched mileage because that still leaves you with unreported miles!

You Tossed Old Records


Over time, you may want to get rid of some paperwork. Do some spring cleaning and decluttering!

But don’t forget, there is a retention requirement for IFTA records.

The problem is, the requirements are set by your base jurisdiction (home state). So you’ll have to do a bit of digging before you have a solid answer for that, but it shouldn’t be too hard to find.

If you’re audited, you’d be out of luck without those old records! Don’t make that mistake.

You Report the Old Fashioned Way


Look, we’re against a lot of new technology but using our cloud-based software to generate an IFTA return just makes sense.

Instead of dealing with paperwork all day, just streamline the process and use ExpressIFTA.

With ExpressIFTA, you can report with trip sheets, bulk upload files, generate your return and reports, and get back on the road!

Sounds a lot easier than filing by hand. But on the slight chance you have a question about something, our customer support team can be reached at (704) 234-6005, Monday through Friday, 9 A.M. to 6 P.M.

Are you making these fuel tax mistakes?


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