Free Live Training Session: IFTA Recordkeeping

When you’re on the road for a living, how on earth does anyone expect you to keep proper records? Do they expect you to keep a giant file cabinet in the cabin of your truck instead of a bed? Well of course not, because that would be ridiculous. But as you already know, just because something is ridiculous, doesn’t mean IFTA won’t require you do it.

If you haven’t already experienced an audit from your base jurisdiction you’ll have to take our word for it; they aren’t fun. Luckily though, there is one clear-cut way proven to help avoid audits and also to speed up the audit process if you do ever find yourself in that scenario. Wanna take a guess what is is? If you guessed that it’s keeping records based off the not-so-inconspicuous blog title, then you’d be right! So keep on reading, and we’ll tell you about how your friends at TSNAmerica can help you find better ways to keep your records and stay organized.

Live Training Session

If you’ve ever done a quarterly IFTA report, you already know that there’s a lot you have to keep up with. Between tracking your mileage traveled in every state, keeping up with all of your fuel purchased, and trying to manage all of your fuel receipts, it can get a little confusing and messy.

Luckily for you, we’ve got a sure-fire way to help you hone your skills; just watch our live training session! I mean seriously, what better way to learn some new recordkeeping skills than to watch our team of trucking service and recordkeeping professionals give you the best tips, tricks, and methods to keep yourself organized.

The session will be held Thursday, September 3 at 4:00 p.m. ET, and will cover the art of IFTA recordkeeping. We’ll also go over some examples of good reports and bad reports that have been sent to us over the years, so you can get a better feel of what to do and not to do.

How Do I Sign-up?

To sign-up, just follow the link here, and enter in your email address and name to register. Once registered, you will be able to attend the training session for free!

We take great pride in knowing our stuff, and our trucking service professionals always stay up-to-date on the latest industry standards. Since it’s our job to make sure that your operations run smoothly, we’ll also be hosting several other upcoming sessions, and we’ll be announcing the dates of each during the IFTA recordkeeping session. Plus, we’ll save all of our other training sessions, so you’ll be able to access them at any time!

At TSNAmerica, we take the problems of our customers and make them our own. Want someone to solve yours? Then just give us a call at 803.386.0320, or email us at support@tsnamerica.com, and we’ll make sure we get you taken care of.

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Deadline Today For 3rd Quarter IFTA, Use Tax & Form 2290 Returns

The deadline to file 3rd Quarter  IFTA, KYU, NY HUT, and New Mexico Weight Distance returns is today!! You must file a return even if you did not run during the quarter. You would just file a “zero” report.

Failure to file a return, filing a late return, or failure to remit any or all tax due will result in a penalty of $50.00 or 10% of the net tax due to all member jurisdictions, whichever is greater.  Interest is computed on all delinquent taxes dues each jurisdiction at a rate of 1% per month.  Even if you have a net refund, interest still applies to each jurisdiction for any underpayment of fuels use tax to that jurisdiction and is calculated beginning the day after the due date of the return for each month, or fraction of a month, until paid. So the longer you are late, the more you will owe.

It is also the last day to file your Form 2290, if you first placed your vehicle on the road anytime during the month of September.

A Vehicle is considered to be a taxable vehicle if it was operating on public roads between the tax periods of July through June. A vehicle is also considered to be taxable if it has a taxable gross weight of at least 55,000 pounds and travels at least 5,000 miles during the tax period (7,500 miles if used for agriculture).

The deadline for 3rd quarter IFTA and Use Tax & Form 2290 returns is today, October 31st, so if you have not yet filed your return(s), you will want to file now to avoid penalties and interest.  At Truck Services of North America, we make it simple 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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Tomorrow is the Deadline For 3rd Quarter Returns & Form 2290

Tomorrow, Thursday, October 31, 2013 is the deadline for 3rd Quarter IFTA, KYU, NY HUT, and New Mexico Weight Distance returns as well as Form 2290 for Heavy Vehicle Use Taxes on vehicles first placed on public highways during the month of September.  

On the road and unable to file your Form 2290 on your own?  No problem, just give us 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.

As a premier processing agency, Truck Services of North America can assist with your IFTA,  NY HUT, KYU, New Mexico Taxes and Form 2290. TSNA takes the paperwork out of you.  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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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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