An Overview of IFTA Report, Due Date and Requirements
IFTA is also known as the International Fuel Tax Agreement.
It is an agreement between the 48 contiguous US States and 10 Canadian provinces that makes it easier for truckers and trucking companies to travel through different states/provinces with a single fuel tax license.
What vehicles need to file for IFTA?
Commercial motor vehicles are required to file for IFTA if they travel between two or more jurisdictions and match the following criteria:
- Has two axles and gross vehicle weight that exceeds 26,000 pounds or
- Has two axles and a registered weight that exceeds 26,000 pounds or
- Has three or more axles or
- Has a combination weight that exceeds 26,000 pounds.
Click here to know more about IFTA reporting.
Why ExpressIFTA?
- Generate IFTA reports in minutes
- Accurate fuel tax calculations
- Automatic IFTA rate updates
- Bulk data upload or manual data entry
- Supports State-specific report formats
- Instant Error Check
- 100% US-based support
In this article, we cover the following topics:
1. When is an IFTA Report due?
Use the table below to find your IFTA Filing dates for 2023
| Quarter Periods | IFTA Quarterly Tax Return Due Dates* |
|---|---|
| 1st Quarter (January- March 2023) | May 1, 2023 |
| 2nd Quarter (April - June 2023) | July 31, 2023 |
| 3rd Quarter (July - September 2023) | October 31, 2023 |
| 4th Quarter (October - December 2023) | January 31, 2024 |
* If the due date falls on a weekend or a state holiday, the due date is extended to the following business day.
2. Information Required to generate an IFTA Report
In order to generate an IFTA Report you need to have the following information:
- Business Details including EIN, business name, business type, and address.
- IFTA details including country, base jurisdiction, and IFTA Account Number.
- Vehicle Details such as truck/unit number, gross vehicle type, fuel type, fleet name, fleet number, make, model, etc.
- Mileage & fuel purchase details such as trip number, distance traveled, and fuel purchased.
Visit https://www.trucklogics.com/ifta-reporting-requirements/ to know more about your IFTA Reporting Requirements.
3. How do I generate an IFTA Report?
You can generate your IFTA Report in a matter of minutes. Just follow the steps below:
- 1.Add your business, IFTA, & vehicle details
- 2.Add mileage & fuel purchase details
- 3.Enter any tax credits or tax due from your previous report
- 4.Review your IFTA Report
- 5.Download your IFTA Report
4.Why Should I Choose ExpressIFTA?
There are so many reasons to choose ExpressIFTA!
- Generate your IFTA reports in minutes
- Accurate fuel tax calculations
- Automatic IFTA rate updates every quarter for all jurisdictions
- Simple mileage entry
- State-specific report formats
- Instant error check
- 100% US-based customer support
5.What is the penalty and interest rate for filing a late quarterly IFTA fuel tax return?
Those who fail to report their IFTA fuel tax on time will face penalties.
There are two common reasons for penalties:
- 1.Failing to file or pay taxes by the due date
- 2.Underpayment of tax due