Alright, ladies and gentlemen! It’s time to get serious about tax deadlines because the 3rd quarter IFTA deadline on October 31st is almost here. That means you have about a week to file your IFTA return in time or you will have steep penalties to face!
To avoid IFTA penalties you will need to complete your return with your base jurisdiction by the deadline. In order to complete your return, you will need to report your fuel and distance records per jurisdiction. That’s where ExpressIFTA will really come in handy, but first, we will cover the late filing penalties.
IFTA Late Filing Penalties
In most jurisdictions or states the penalty for filing late is a fee of $50 or 10% of the taxes due, depending on which amount is greater. However, in Nevada, the penalty for filing late is a $50 fee plus 10% of the taxes due.
Also, if you make a late payment in addition to the late filing fee you will be charged .4167% of the total tax due on a monthly basis until the total amount has been paid. Nevada ups the ante again by charging .4167% of the total amount due per month as well as a series of administrative fees.
The administrative fees equal $100 the first time, $500 the second time, $1,000 the third time, $1500 the fourth time, $2000 the fifth time, and $2500 every time after that.
ExpressIFTA will accurately calculate how much IFTA fuel tax you owe so you don’t over or underpay. The amount will be listed on your IFTA report. When completing your IFTA return you can pay the amount you owe via check or money order.
IFTA Reporting With ExpressIFTA
When recording your fuel and distance information online with ExpressIFTA you have the ability to keep completely detailed trip records. You can list the trip starting and end date, odometer readings from the beginning and end of the trip, fuel and distance records per day, and more.
However, if you feel pressed for time there are faster ways to upload your information. For example, you can use the quick entry screen to upload your information for a month at a time. You can also use the bulk upload feature to upload all of your information at once. Plus, you can even upload your mileage information directly from your GPS!
Now if you’re worried that reporting your IFTA totals quickly will lead to mistakes, take a deep breath and relax. Our audit check will catch any basic errors on your estimated miles per gallon. It will catch is miles fall out of your MPG range, if you traveled between nonadjacent states, and if your report a fuel purchase in a state you didn’t travel in.
Best of all, an IFTA report will be generated based on the information you enter to clearly display your IFTA totals. The report can be printed, emailed, or used to instantly complete your IFTA return.
If you need any assistance our dedicated, US-based ExpressIFTA support team is here to help. Give us a call Monday – Friday from 9 AM to 6 PM EST. We also offer live chat and 24/7 email support at support@ExpressIFTA.com. We basically IFTA experts and will help you with any step of the IFTA reporting process to help you instantly generate your report.
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