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No Need to Worry about IFTA, When OTS is Here!

Author: Online Trucking Solution
by Online Trucking Solution
Posted: Jun 16, 2022

Certainty is a massive thing though it has very few occupants. One of the most certain things is taxes. One cannot be that certain about anything, not even life, but paying taxes is the most certain thing for sure. And one of those taxes is IFTA.

IFTA tax is the fuel tax for truckers, abbreviating the International Fuel Tax Agreement. It is an agreement that specifies how the trucking companies and the truckers can use the IFTA calculator and manage their fuel taxes with maximum ease and simplicity.

As IFTA sounds like a helpful resource, let us see how IFTA has been beneficial to the truckers in streamlining all the paperwork related to their payment of the fuel taxes.

How can IFTA be beneficial to the drivers?

Ease of service in handling paperwork

-In the early times, all trucking companies and truckers used to have many issues while tackling their fuel taxes. It used to be highly complicated and also a lengthy process in which the truckers had to wait at the entry port and then again stop to buy a permit.

-Also, they had to face a lot of jurisdictions just to get rid of their fuel taxes payment. Many rules were too stressful for the truckers to deal with right then. At those times, they had to purchase multiple fuel tax licenses for all the states they had traveled to.

After the agreement of IFTA, they got the opportunity to switch simply to a single permit. This IFTA reporting thing reduced their paperwork tasks to a great extent.

Provides trucking solutions

-Certain trucking solutions can even ease the IFTA reporting to another level. One such solution is the deployment of telematics. This technique can have a record of both the vehicle and the driver.

-It stores all the data like the travel's location, the journey's date and time, and how many gallons have been consumed.

-Thus, these metrics can help a lot in identifying the distance traveled by the vehicle in each state and keeps the measure of the total amount of fuel consumed and its cost.

-This eases the driver's task as they can easily present their on-demand report to the officials. They do not have to waste that much time on the paperwork, and the reports are also very accurate.

IFTA calculator usage

-As the trucking solutions give all the details like the number of gallons bought in each state, the number of miles traveled, etc., one just has to calculate the fuel mileage of the reporting quarter.

-Then, the calculation of the total number of gallons that have been consumed in each state is done.

-After that, the calculation of tax matured in each of the states, and finally, the calculation of the overall amount overdue on the IFTA return.

-All these calculation tasks are easily done by the IFTA calculator, which gives the final report.

Since trucks belong to heavy commercial vehicles, they are only one of the major reasons that any roadway gets damaged or wears faster. These taxes are necessary to serve as the revenues collected to help maintain all the roadways that all the vehicles travel on. Therefore, grab the knowledge of these taxes at OTS and find peace with them.

About the Author

Online Trucking Solution is a trucking Management software for small fleets and Owner Operator. OTS helps trucking companies manage dispatching, Ifta Reporting, accounting, and maintenance records

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Author: Online Trucking Solution

Online Trucking Solution

Member since: Oct 23, 2020
Published articles: 3

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