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Thursday, November 7, 2019

So. What Happens If I File IFTA Late?

Trucker filing IFTA quarterly report form online with express truck tax
Well. That depends on how late you are. And since there are four quarterly deadlines each year, it’s easy to forget to file IFTA. We wouldn't recommend that, though. No need to fork out more money towards taxes than you already are.

If you file IFTA one month late.

In the first month, you will be slapped with an additional fee of $50 or 10% of the tax you owe, whichever is greater. That $50 might not sound like much, but let’s put it in perspective.

The actual amount you will owe for IFTA will vary widely, depending on factors like the miles you drove in each jurisdiction and how much fuel was purchased and consumed.

So, for example, let’s say you would have owed $300 for the quarter. This is already a lot to be forking out. But after forgetting for that first month, you will be looking at another $50 penalty on top of that. After a month, you already owe $350.

If you file IFTA more than one month late

But let’s say you fail to file IFTA even longer. Well, you’re going to get another .4167% tacked on each month.
So if you forget to file IFTA for three months, you’ll owe $353.75.

Are you starting to see why it’s important to file IFTA on time? When these kinds of unnecessary expenses pile up, they can sink a business.

And did we mention that your base jurisdiction reserves the right to suspend or even revoke your IFTA license? That’s right. Not filing your IFTA form can get you in big trouble.

Trucker filing IFTA quarterly report form online with express truck taxGenerate your IFTA quarterly report form in minutes

The easiest way to avoid paying these unnecessary late penalties is to generate your IFTA quarterly report form with our sister-product Express IFTA. They make it simple it for you.
Express IFTA is user-friendly, and it does all the complicated calculations for you. Just input your information and Express IFTA will generate a highly-accurate form you can file with.
Best of all, you’ll get a report starting at just $19.90.



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