IFTA Tax for Trucking Business - An Overview
What is IFTA Tax - International Fuel Tax Agreement (IFTA) is an agreement among the United States and the Canada provinces, to make reporting of fuel expenses simpler for vehicles travelling in more than one jurisdiction.
Requirements for generating IFTA Tax - Vehicles with at least two axles or a taxable gross weight of 26,000 pounds or more must be filed for IFTA tax if the vehicle operates in more than one jurisdiction in the quarter.
Deadline for IFTA Taxes - IFTA is a quarterly return that needs to be filed for every 90 days. The deadline to file your IFTA report falls on the last day of the month following the end of the quarter. For example, the deadline for the quarter July - September 2020 is on October 31,2020.
Advantages of generating IFTA Taxes with our Software An Overview of our Software
Generate your IFTA Report in minutes
We offer a simplified and user-friendly e-filing solution to help you generate your IFTA report quickly.
Accurate Fuel Tax Calculations
Your taxes are calculated automatically with accuracy based on the information provided.
Bulk data upload or manual data entry
Bulk upload odometer and distance records for multiple vehicles at the same time. You can also manually enter your data.
Instant Error Check
An Internal Audit is done before transmitting your return to avoid basic errors and reduce the chances of rejection.
Support State-Specific report formats
We offer IFTA reporting in PDF format and online worksheets. Based on your state requirement, you can generate your IFTA report.
Generate multiple reports
Multiple IFTA reports for the same quarter will be saved in different formats. Records of all your IFTA reports will be maintained for your accounting purposes.