Why do truckers have to file their IFTA Fuel Tax in a Quarterly Basis?

Introduction:

IFTA is an agreement which is signed between the Canadian Provinces and the United States. The International Fuel Tax Agreement (IFTA) was systematized mainly for the simplification of the reporting process. IFTA facilitates in the reporting of fuel use by the motor carriers who function and are active in more than one jurisdiction in an uncomplicated manner. Each state would have come up with different tax rates and the IFTA state filing are wholly based on what each state has set and there is a high chance of variation. So, if you wish to acquire or cancel an IFTA license you should always get in touch with the state directly.

There are some taxes, which requires to be filed on a yearly basis. On the contrary, there are some taxes which are filed on a quarterly basis- i.e. four times a year. IFTA Fuel Tax is also filed on a quarterly basis and they are due to your base jurisdiction on the month’s last day that will be following the end of the quarter you’re filing for.

Second Quarter Due Dates:

The 2nd quarter runs from the month of April through June. Hence, it will be appreciated if you gear up and you need to generate and report your IFTA return by August 1st. In case, you are not able to file the return, then you will have to pay a late penalty. Why do you want to pay the penalty unnecessarily when Express IFTA is there helping you out with the same? You might know that the due date falls on the last day of the month after the end of the quarter. Therefore, it means July 31st and it falls on a Sunday this year. You will get an additional breathing space and you can take some more time to file the same. Sounds Great, right?

Why Truckers should File IFTA?

If you don’t file IFTA as per the due date, then you will have to bear the burden of the penalties. In most states, the IFTA late filing penalty is a flat rate fee of $50 or 10% of the taxes due, whichever is greater.
 
 So, why do you want to go to the payment of penalties when ExpressIFTA is there to offer you the needed guidance.

Truckers Difficulty

There are many truckers out there who are irked when the IFTA deadline is fast approaching. Why are they worried about it? We can understand their plight in a better manner. The truckers will be asked to produce the fuel receipts, trip logs, and what not….The enormous paperwork involved at the time of filing IFTA is really painstaking. In order to make your work enjoy a smooth sailing, you can always rely on ExpressIFTA and get your task completed in no time.

We, in ExpressIFTA aids in IFTA reporting and you can relax yourself on the road and save your precious time as well. There will be no need to worry about the penalties also as we are there for you always…