Penalties For Late IFTA Filing

IFTA is the International Fuel Tax Agreement between the 48 contiguous States and 10 Canadian Provinces, where the member jurisdictions act cooperatively to administer and collect motor fuel use taxes.

Under IFTA, you are required to file Quarterly Fuel Tax Returns.  IFTA Returns are due on the last day of the month following the end of each calendar quarter. To avoid penalty for late filing, the tax reports must be postmarked no later than midnight on the date indicated. If the last day of the month falls on a Saturday, Sunday or legal holiday, the next business day will be considered as filed timely.

A quarterly fuel tax return must be filed even if the no fuel was used.  You submit a “zero” report.

Penalties for Late/No Filing

A penalty of $50.00 or 10% of the net tax liability, whichever is greater, will be assessed on late-filed reports, failure to file, or for underpayment of tax due. If the net tax liability is zero or a credit, the late filing penalty will still be $50.00. To avoid penalty for late filing, the tax reports must be postmarked no later than midnight on the date indicated. If the last day of the month falls on a Saturday, Sunday or legal holiday, the next business day will be considered as filed timely.

Interest is assessed on all delinquent taxes due each jurisdiction. The interest rate is 1% per month. Interest will be calculated from the date the tax was due for each month or fraction of a month until paid.

As a premier processing agency, Truck Services of North America, makes it simple by preparing and filing your quarterly returns for you. Avoid penalties for filing late by letting TSNA take the paperwork out of your way! Contact us today at TSNAmerica.com or call 803.386.0320 to get your account set up.