3rd Quarter Filing Starts October 1!

No, you aren’t reading the title wrong - IFTA season is almost here again! We know it feels like the 2nd quarter just ended, but now the 3rd quarter is almost in the books, too. So don’t put off filing and leave yourself with a giant IFTA mess at the last minute. Give us a call and let us sort it out for you; that’s what we’re here for!

IFTA Filing

3rd Quarter IFTA filing officially opens up next Thursday, October 1 - and the deadline to file your return is October 31, 2015. If you prepare yourself now, you can avoid rushing around at the last minute. Also note that if you have a valid IFTA license, you must file a quarterly return even if you didn’t operate in a member jurisdiction during the 3rd quarter.

To file you’ll need to have your:

Mileage Log- Whether you use manual trip sheets, a GPS, or electronic trip sheets; you’ll need to have your mileage handy to file your quarterly IFTA return. It’s also necessary in case you ever face an audit from your base jurisdiction. (If you do you’ll thank us.)

Fuel Receipts- You will need to know the total amount/type of fuel purchased in each state.

Once you have all your mileage and fuel purchase information ready, and it’s separated by state, just send it on over to us and we’ll get your filing taken care of for you!

Other 3rd Quarter Taxes Due in October

And as many of you know, along with IFTA filing season comes the filing season for several other state-specific use taxes including:

Kentucky Use Tax (KYU)- Kentucky requires all commercial vehicles with a gross weight of 60,000 pounds or more traveling either into or through Kentucky to be registered with the state. Once registered, drivers will receive a KYU number and are then required to file a quarterly return and pay mileage taxes to the state of Kentucky. If you are only traveling through the state for one particular trip, temporary permits can also be obtained.

New Mexico Weight Distance Tax- All commercial vehicles with a gross weight over 26,000 pounds are required to be registered with the state before traveling in or through New Mexico. If you are not already registered, entrance can be paid at the port. Once a weight distance account has been established for you in New Mexico, you are then required to file quarterly reports and pay tax on the mileage you travel.

New York Highway Use Tax (NYHUT)- New York requires carriers operating motor vehicles that weigh 18,000 lbs or more to register and obtain New York Heavy Vehicle Use Tax credentials. Once you have an NYHUT account established, you must then file and pay mileage tax every quarter.

If you operate in any of these states and you don’t have temporary trip permits, you’ll need to file. The filing period for all of these special-use taxes opens next Thursday, October 1, 2015, along with the IFTA filing period.

So once again, and we cannot stress this enough, DO NOT wait until the last minute! Why would you when you can just call up your friends at TSNAmerica and have us do it for you?

As a premier processing agency, Truck Services of North America can assist with your IFTA, NY HUT, KYU, and New Mexico Use Taxes. TSNA takes the paperwork out of your way, so you can get back to your busy day. You can view a full list of our services here, but feel free to call us at 803.386.0320 or email us at support@tsnamerica.com with any other questions.

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Last Minute Quarterly IFTA Filing Tips

A Quarterly IFTA tax return must be filed even if the licensee does not operate or purchase any taxable fuel in an IFTA member jurisdiction during the specific quarter. You will need to separate your mileage and fuel records for each fuel type. If you operate in New York, Kentucky, New Mexico, or Oregon you will also need to file a Weight Distance Tax Return, in each state.

What you need: 

1. Mileage log-whether you use manual trip sheets, GPS, or electronic trip sheets; it is not only necessary to have in order to file your quarterly IFTA, but you will need these if you are ever audited. 
2. Fuel Receipts-you will need to know how many gallons of fuel were purchased in each state.

Options to prepare and file your return: 

1.  Doing it yourself, you can calculate your own return by hand and mail or e-file the return. To find out the current tax rate for each state go to www.iftach.org. 
2. Using a software program that will calculate your return for you, like ExpressIFTA.com, which will reduce the chances of miscalculations. 
3. Using Truck Services of North America and let them take care of preparing and filing the return for you.

Regardless of the method you choose to file your quarterly IFTA tax return, it is crucial to maintain accurate records and file your returns on time to avoid fines and penalties.

As a premier processing agency, Truck Services of North America can file your Quarterly IFTA Taxes for you.  TSNA takes the paperwork out of your way. Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

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3rd Quarter IFTA Returns Due In One Week

Reminder that all 3rd Quarter IFTA Returns are due by next Thursday, October 31, 2013.  The International Fuel Tax Agreement (or IFTA) is an agreement between the lower 48 states of the United States and the Canadian provinces (except Northwestern Territories, Nunavut and Yukon), to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. This simplifies the process of reporting quarterly fuel tax returns.

This tax is required for motor vehicles used, designed, or maintained for transportation of persons or property and:

• Having two axles and a gross vehicle weight rating or registered gross vehicle weight in excess of 26,000 pounds, and/or 
• Having three or more axles regardless of weight, and/or 
• Is used in combination, when the weight of such combination exceeds 26,000 pounds gross vehicle or registered gross vehicle weight.

Exceptions exist for Recreational Vehicles (such as motor homes, pickup trucks with attached campers, and buses when used exclusively for personal pleasure by an individual). Some states have their own exemptions that may apply to farm vehicles or government vehicles, so check your state for their specific exemptions.

The IFTA license offers several benefits to the interstate/inter-jurisdictional motor carrier. These benefits include one license, one set of decals per vehicle, one quarterly fuel tax report for all vehicles that reflects the net tax or refund due. Tax returns are required even if no operations were conducted or no taxable fuel was used during the reporting period. Returns that are not filed or not paid in full are considered late and will be assessed penalty and interest.

When filing a tax return, a licensee may apply the fuel overpayment generated in one jurisdiction to the taxes owed for another jurisdiction. These advantages result in cost and time savings for the carrier and the member jurisdictions.

Under IFTA, you are able to file one return in your base jurisdiction and that jurisdiction will allocate the money appropriately.  This agreement definitely simplified what used to be a very long and time-consuming process. So don’t delay in filing your 3rd Quarter IFTA return by the October 31st deadline.  

At Truck Services of North America, we make it even simpler by preparing and filing your quarterly returns for you. TSNA takes the paperwork out of your way.  Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

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2013 IFTA 3rd Quarter Filing Deadline is Coming!

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.

The purpose of IFTA is to establish and maintain the concept of one fuel use license and one administering base jurisdiction for each license holder (licensee). Under IFTA, you only have to report to one state and the state allocate the fuel tax payments.  For more details see http://www.iftach.org.

We are halfway through the filing period for 3rd quarter.  The fuel taxes are due quarterly and October 31st is the deadline for the 3rd quarter. (July, August, September).

What you need to file:

• Mileage log 
• Fuel Receipts 
• Any IFTA correspondences pertaining to your account (if applicable)

Late Filing or Not Filing could result in the following:

• IFTA filing (late fee) plus interest (if applicable) 
• Possible suspension of IFTA license 
• Possibility of having IRP/Apportioned Plate account affected 
• Citation from DOT if caught operating on a delinquent and or suspending IFTA license 
• Threat of having your entire transport operation shut down

The IFTA filing process may be vary slightly depending on your base jurisdiction state.  

If you are new and not sure what to do or would rather not have to take the time to file your IFTA, contact Truck Services of North America at today. If you would like us to take care your IFTA, we will need copies of your mileage logs and fuel receipts into our office.

As a premier processing agency, we can set up your IFTA accounts and file your Quarterly IFTA Taxes for you. TSNA takes the paperwork out of your way!  Check out all our services at TSNAmerica.com and fill out the Service Request Form, email us at support@TSNAmerica.com or call 803.386.0320.

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3rd Quarter Filing Period Now Open!

3rd Quarter Filing Period for IFTA (International Fuel Tax Agreement), KYU (Kentucky Use Tax), New Mexico Weight Distance Tax, and NY HUT (New York Highway Use Tax) is now open.

We want to remind you that the deadline for filing is October 31, 2013 and we encourage you not to wait until the last minute to file. As a premier processing agency, Truck Services of North America can assist with your your IFTA, NY HUT, KYU, and New Mexico Taxes.  We can help you obtain the necessary credentials and file your quarterly taxes for you. TSNA takes the paperwork out of your way. For more details contact us at TSNAmerica.com or call 803.386.0320.

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What is IFTA?

The International Fuel Tax Agreement (IFTA) is an agreement between the lower 48 states of the United States and the Canadian provinces (except Northwestern Territories, Nunavut and Yukon), to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. Under IFTA, you are able to file one return in your base jurisdiction and that jurisdiction will allocate the money appropriately.  This agreement definitely simplified what used to be a very long and time-consuming process.

Who is required to file?

This tax is required for motor vehicles used, designed, or maintained for transportation of persons or property and:

• Having two axles and a gross vehicle weight rating or registered gross vehicle weight in excess of 26,000 pounds, and/or 
• Having three or more axles regardless of weight, and/or 
• Is used in combination, when the weight of such combination exceeds 26,000 pounds gross vehicle or registered gross vehicle weight.

Exceptions exist for Recreational Vehicles (such as motor homes, pickup trucks with attached campers, and buses when used exclusively for personal pleasure by an individual). Some states have their own exemptions that may apply to farm vehicles or government vehicles, so check your state for their specific exemptions.

When do you have to file?

Under IFTA, you are required to file quarterly fuel tax reports.

• The reporting quarters and due dates are:

January – March	April 30
April – June	July 31
July – September	October 31
October – December	January 31

How do you file?

The filing process varies from state to state.  Some states offer e-filing, with more states moving towards that option.  Check with your state to find out what is required.

As a premier processing agency, Truck Services of North America can set up your IFTA accounts and file your Quarterly IFTA Taxes for you.  TSNA takes the paperwork out of your way. For more details contact us at TSNAmerica.com or call 803.386.0320.

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IFTA Recordkeeping Requirements

It is important to keep accurate records in case they are ever requested during an IFTA audit.  As stated in in the IFTA Procedural Manual, you are required to maintain your records for 4 years from the due date or file date of the quarterly tax return, whichever is later, plus any time period included as a result of waivers or jeopardy assessments. Records may be kept on microfilm, microfiche, or other computerized or condensed record storage system acceptable to the base jurisdiction. Non-compliance with any recordkeeping requirement may result in the revocation of the license.

Detailed distance records which show operations on an individual-vehicle basis must contain, but not be limited to:

• Taxable and non-taxable usage of fuel; 
• Distance traveled for taxable and non-taxable use; and 
• Distance recaps for each vehicle for each jurisdiction in which the vehicle operated.
  

An acceptable distance accounting system is required and supporting information should include:

• Date of trip (starting and ending); 
• Trip origin and destination; 
• Route of travel (may be waived by base jurisdiction); 
• Beginning and ending odometer or hubodometer reading of the trip (may be waived by base jurisdiction); 
• Total trip miles/kilometers; 
• Miles/kilometers by jurisdiction; 
• Unit number or vehicle identification number; 
• Vehicle fleet number; 
• Registrant's name; and 
• may include additional information at the discretion of the base jurisdiction.
  

Complete fuel records of all motor fuel purchased, received, and used in the conduct of its business must be maintained. Separate totals must be compiled for each motor fuel type and retail fuel purchases and bulk fuel purchases are to be accounted for separately.

The fuel records shall contain, but not be limited to:

• The date of each receipt of fuel; 
• The name and address of the person from whom purchased or received; 
• The number of gallons or liters received; 
• The type of fuel; and 
• The vehicle or equipment into which the fuel was placed.

Retail purchases must be supported by a receipt or invoice, credit card receipt,

automated vendor generated invoice or transaction listing, or microfilm/microfiche of the receipt or invoice. Receipts that have been altered or indicate erasures are not accepted for tax-paid credits unless the licensee can demonstrate the receipt is

valid. An acceptable receipt or invoice must include, but shall not be limited to, the following:

• Date of purchase; 
• Seller's name and address; 
• Number of gallons or liters purchased; 
• Fuel type; 
• Price per gallon or liter or total amount of sale; 
• Unit numbers; and 
• Purchaser's name

A licensee may claim a tax-paid credit on the IFTA tax return for bulk fuel only

when the bulk storage tank from which the fuel is withdrawn is owned, leased or

controlled by the licensee; the fuel is placed into the fuel tank of a qualified motor

vehicle; and either the purchase price of the fuel includes tax paid to the member

jurisdiction where the bulk fuel storage tank is located or the licensee has paid

fuel tax to the member jurisdiction where the bulk fuel storage tank is located.

Bulk fuel records must contain the following:

• Date of withdrawal; 
• Number of gallons or liters; 
• Fuel type; 
• Unit number; and 
• Purchase and inventory records to substantiate that tax was paid on all bulk purchases.

There are specific requirements necessary to maintain accurate IFTA records and is your responsibility as an IFTA licensee. Proper recordkeeping simplifies the audit process, should you ever be audited.

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

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