Today at our article space, we are going to talk about the IFTA and its first quarter of the year. Every quarter, IFTA filers have to file their tax return to their base jurisdiction to avoid the junk of penalties. if you have crossed any of the 48 jurisdiction during the quarter, falling from January to March, you are liable to report form without fail by the end April. |
Let’s start with the basics for the audience who don’t know much about IFTA.
IFTA- An Overview:
IFTA is also known as the International Fuel Tax Agreement is active between 48 contiguous states and 10 Canadian Provinces, where the member jurisdictions act cooperatively to administer and collect motor fuel use taxes. The idea of IFTA was to establish and maintain the concept of fuel use license and one administering base jurisdiction for each licensee. IFTA works when you have to report fuel tax to one or more state each quarter to your base jurisdiction.
Prepare Your IFTA Return Online:
The procedure is quite simple. To start with, you need to register or log into your account and choose the form you are filing. If you are a returning customer, we are sure; you have your own business detail already added in your business profile. And if you have missed your credentials somewhere, allow us to figure it out. Add in the tax year, the quarter you are filing and the base jurisdiction your vehicle belong. The next step is to add information about your vehicle. Also, you can bulk upload the vehicle details or export information from your previous filing and upload it in the present preparation list.
Right after adding these information, you need to provide info about the distance and fuel information, based on the jurisdiction you have traveled, fuel type you have used and the gallons of fuel pumped in that jurisdiction.
Other than that, there is an added advantage. You can tally your tax credits for 8 quarters returns in one go. Then you have to choose the package you would opt for preparing IFTA. Pay your return online and you get IFTA PDF in your email ID.
Prepare IFTA online: Why?
Well, the reasons are endless; however, there are few reasons we have jolted down for you:
• Less time consuming and provides you with the freedom to prepare anytime • Tax calculations are done online, maintaining the accuracy levels • Errors are totally eliminated • Text Alert and Fax Alert for your • Quick helps to draft your path across the application
The due date to file IFTA is round the corner (30th April). We know you have ample time to file and report your tax return, but we never encourage our customers to file and report tax IFTA last minute. To stick to safer grounds, come to TaxIFTA.com and prepare your return online with ease. You can ask for assistance to our Tax Experts who would love to help you with anything and everything. Simply drop us an email or call us. We would be right there for you.
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