Your Complete Guide To Trucking Tax Returns
It’s kind of ironic that there is a ‘tax season’ when we have have to face all types of different tax deadlines all year long, especially in the trucking industry. It seems like every time we turn around another return is due and it can be a little hard to keep all the different deadlines.
That’s why we’re here to help by explaining a few different types of truck taxes. Today we’re going over IFTA, HVUT, and IRP deadlines so you can stay organized and complete all of your returns on time. We can also help you quickly and easily generate reports so you can file these returns without any hassles to get back on the road faster.
Truck Tax Returns
IFTA
IFTA or the International Fuel Tax Agreement is a return that you need to complete on a quarterly basis. It’s used by the continental 48 United States and 10 Canadian provinces to simplify the reporting of fuel use by those who operate qualifying vehicles in more than one jurisdiction.
In order to complete your quarterly IFTA return, you need to report your fuel usage, purchases, and miles traveled per jurisdiction. You will also need to place two IFTA decals under the window of your driver side door and carry your IFTA license in your cab at all time.
The IFTA Deadlines are:
1st Quarter – April 30th
2nd Quarter – July 31st
3rd Quarter – October 31st
4th Quarter – January 31st.
You can use ExpressIFTA to record your fuel and distance information online and we will automatically calculate the amount of fuel tax you owe. Plus, all of your information will be generated in an easy to read IFTA report that can be printed, emailed, and used to instantly complete your IFTA return. All of your information will be stored on a quarterly basis and can be accessed at any time.
HVUT Form 2290
HVUT or Heavy Vehicle Use Tax Form 2290 is the tax paid by those who operate heavy vehicles of 55,000 pounds or more on public highways. The taxes collected are used to fund construction, maintenance, and repairs.
Your Form HUVT deadline is based on the first month that you use your heavy vehicle during the tax period which runs from July 1 to June 30 of the following year. Your Form 2290 is due on the last day of the month following your vehicle’s first use month. Because most people first use their heavy vehicles in July their Form 2290 is due on August 31st.
ExpressTruckTax is an IRS authorized 2290 e-file provider that will help you complete your form in a matter of minutes. Simply follow the step-by-step guide to finish your form and transmit it directly to the IRS. Then you will receive a copy of your stamped Schedule 1 via email within about 15 minutes.
IRP Return
Your IRP or International Registration Plan is similar to IFTA in that it’s an agreement between the 48 continental US states and 10 Canadian provinces. It’s used to report the total distance operated in each jurisdiction by heavy vehicles.
Your IRP license allows you to travel in multiple jurisdictions. You will need to carry your IRP liscense in your cab at all times and you will have an IRP tag. You are required to complete your IRP return by the expiration date on your IRP tag.
You will need to report your miles traveled per jurisdiction and show proof that you completed Form 2290 and paid your HVUT tax to complete your IRP return. Your stamped Schedule 1 serves as proof.
ExpressIFTA will help you track your miles traveled per jurisdiction online and provide you with an IRP report so you can instantly complete your return!
We’re Here To Help
If you need any assistance feel free to contact the dedicated, US-based ExpressIFTA support team. We’re basically truck tax experts so give us a call Monday – Friday from 9 AM to 6 PM EST at 704.234.6005. You can also reach us via live chat and take advantage of your 24/7 email support at support@ExpressIFTA.com.
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