Friday, April 22, 2016

Warning: Make Sure You Have These 3 Things Ready for IFTA

Once again, the first quarter of the year has come and gone in a hurry, and now (believe it or not) we’re less than 10 days away from deadline day.

With only days left to get your reports together, if you haven’t already filed, congrats, you’re a professional procrastinator. But those are our favorite kind! So don’t worry, keep reading and we’ll tell you exactly what you need to file your IFTA return.

What You Need to File IFTA


The first (and also the most important) thing you’ll need to have is your mileage information. This should include the total taxable miles you traveled in each participating IFTA jurisdiction.

If you have any questions about your mileage, you can check out this helpful blog on which miles are taxable and which are not.

Fuel Information:

In addition to your mileage information, you’ll also need to be sure that you have all of your fuel information. You’ll need to have the:

  • Address of each fuel purchase 
  • Type of fuel purchased
  • Amount of fuel purchased 
  • Total sale amount

Records of Mileage and Fuel Purchases:

The last thing you’ll need, and this can be especially helpful in the event of an audit, is to have copies of your fuel receipts and your mileage records.

You are required by law to hold onto your previous receipts for three years after filing, and if you do face an audit, let’s just say it isn't going to end well unless you have those records.

Need some help keeping up with yours? Well with TruckLogics, not only can you get unlimited ProMiles usage and routing, but you can even take pictures of your fuel receipts and upload them into your account for safekeeping!

So now that you all know what you need, what are you waiting for? Someone to file your IFTA return for you?

Well, if you are, you’re in luck because that’s exactly what we do! Just give us a call at 803.386.0320 and see how easy it is!

No comments:

Post a Comment