Fuel tax report

Fuel Tax Return IFTA(INTERNATIONAL FUEL TAX AGREEMENT )

(IFTA)International Fuel Tax Agreement (IFTA) and Interstate User Diesel Fuel Tax (DI) returns are filed on a quarterly reporting basis. All IFTA e -Filed returns must be filed timely.

Qualifying commercial motor vehicles traveling in more than one U.S. state or Canadian province are required to file a consolidated report of motor fuels taxes (e.g., gasoline, diesel fuel, liquefied gas, compressed natural gas and liquefied natural gas taxes) under the International Fuel Tax Agreement

Due Dates IFTA registration

IFTA fuel reports are due four times a year, the last day of the month after each quarter closes. Even if no taxable fuel was used or operations were conducted during the reporting period, the IFTA fuel tax report is required. The exact dates are April 30, July 31, October 31, and January 31.

On the 20th of the month, the actual tax for the preceding month (less the tax paid on the last day of the preceding month) is payable

Eligibility

Authorized remitters and authorized merchants of fuel should record IFTA Taxes by the twentieth of the month following the acquisition of their fuel items

Global Fuel Tax Agreement (IFTA) registrants should record their government form quarterly by the last day of the month following the finish of the quarter.

You can E-record fuel tax returns on any PC, cell phone, or tablet at the most minimal cost in the business. Abstain from with nothing to do heading to your neighborhood IRS office and holding up in long queues to finish up a tax document you can do through IFTA registration in no time. Login to Fuel tax return your Account helpfully with your IFTA taxes login qualifications.

What is the Late Filing Penalties for IFTA

IFTA legislation states that a penalty of $50.00 or 10% of the taxes owed (whichever is greater) will be calculated on late-filed reports, failure to file, or for underpayment of tax due. If the net tax liability is zero or a credit, you will owe the late filing penalty.

To avoid penalties for late filings, the tax reports need to be submitted to the correct base jurisdiction no later than midnight on the date indicated. If the last day of the month falls on a legal holiday or a weekend, the next business day will become the deadline date.

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