How To Avoid IFTA Penalties

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, if you hold an IFTA license, regardless if you operated or not.  If you did not operate and no fuel was used, you would submit a “zero” report. IFTA Returns are due on the last day of the month following the end of each calendar quarter. 1st Quarter IFTA Returns are due April 30, 2014.

What can you do to avoid penalty for late filing?

1. Prepare Now - Don’t wait until the last minute to try to get your records together for the entire quarter.  Keep track of your miles and fuel as you go.  This saves you a lot of time (and stress) in the end.
2. Know the rules - By holding a valid IFTA license, it is your responsibility to be aware of the rules and to abide by them. If you do not know, find out what they are.
3. Keep proper records - this will help you should you ever have to go through an IFTA audit.
4. File on time - 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.

At Truck Services of North America, we make it even simpler by preparing and filing your quarterly returns for you.

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4th Quarter IFTA & Highway Use Tax Returns Due In One Week

The 4th Quarter IFTA, KYU, NY HUT & New Mexico Weight Distance filing period January 31st deadline is only one week away. Note that a Quarterly 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.  If you hold a license or permit a return must be filed each and every quarter, regardless if you operated or not.  

Failure to to file your return could result in applicable penalties and interest.  With IFTA, when a licensee fails to file a return, files a late return, or fails to remit any or all tax due, the licensee is subject to penalty and interest. The penalty is the greater of $50.00 or .4167% of the net tax due to all member jurisdictions. Interest is computed on all delinquent taxes due each jurisdiction at a rate of 1% per month. The Department will assess interest for a full month.

If a licensee does not operate or purchase taxable fuel, simply enter “0” when filing the return.  Many states offer electronic IFTA filing, to find out if your state offers IFTA E-Filing, click here.

As a premier processing agency, Truck Services of North America can set up your IFTA, Kentucky Use Tax, New York Highway Use Tax & New Mexico Weight Distance accounts and file your Quarterly Taxes for you by the deadline.  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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Upcoming 2013 IFTA 4th Quarter Filing Deadlines

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 4th quarter IFTA, KYU, New Mexico & NY HUT.  The fuel taxes are due quarterly and January 31st is the deadline for the 4th quarter. (October, November and December).

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 & Highway Use 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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Quarterly IFTA & Highway Use Tax Returns Required Even For No Operations

As the 4th Quarter IFTA filing period January 31st deadline approaches, note that 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.  If you hold an IFTA license a return must be filed each and every quarter, regardless if you operated or not.  

Failure to to file your return could result in applicable penalties and interest.  When a licensee fails to file a return, files a late return, or fails to remit any or all tax due, the licensee is subject to penalty and interest. The penalty is the greater of $50.00 or 10% of the net tax due to all member jurisdictions. Interest is computed on all delinquent taxes due each jurisdiction at a rate of 1% per month. The Department will assess interest for a full month.

If a licensee does not operate or purchase taxable fuel, simply enter “0” when filing the return.  Many states offer electronic IFTA filing, to find out if your state offers IFTA E-Filing, click here.

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. 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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Tomorrow is the Deadline For 2014 IFTA, New Mexico Weight Distance, Oregon Weight Receipt & UCR Renewals

Tomorrow, Tuesday, December 31, 2013 is the deadline for 2014 IFTA Renewal, 2014 New Mexico Weight Distance & Oregon Weight Distance Renewals, 2014 UCR Renewals, and Form 2290 for Heavy Vehicle Use Taxes on vehicles first placed on public highways during the month of December and Oregon Weight-Mile returns for December for those required to file monthly returns.

On the road and unable to file your Form 2290 on your own?  No problem, just give Truck Services of North America a call and we’ll take care of it for you.  We take all your information over the phone and submit it to the IRS on your behalf!  All we need is your information and a signed Form 8453, giving us the authorization to file for you.  We can fax you the form, you sign it a fax it back and we take care of the rest. We can even send your employer proof that you filed your Form 2290 for you.  So don’t risk IRS penalties by missing tomorrow’s deadline.

Truck Services of North America can handle it for you.  TSNA takes the paperwork out of your way!  Contact TSNA to get your Form 2290 and 2014 Renewals filed today! 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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