Being a trucker is not an easy task to deal with. With a long list of obligations, taxes are one among them. However, if you are traveling from one jurisdiction to another during the course of the quarter with IFTA license or permit, you are liable to file and pay IFTA taxes to your base jurisdiction on or before the due date. For the 3rd quarter, the due date is falling on 31st of October. So truckers, get ready with the documents and set it for filing.
However, we will discuss about IFTA in general.
What Is IFTA Is And Who Is Liable To File?
International Fuel Tax Agreement (IFTA) is for vehicles owners operators running their business in other jurisdictions during the quarter. This includes Canadian provinces and the 48 contiguous United States, excluding Alaska, Hawaii and the Canadian territories. These motor vehicle owners do possess an IFTA license and are required to file their return to IRS on a quarterly basis if at all they cross 2 or more jurisdiction.
IFTA is supposed to be filed by the next month of the each ending quarter, i.e. October will be the due month for July-September quarter. One-month time is provided by the jurisdiction to get your return prepared and filed with your base jurisdiction.
We know how tedious it is when it comes to tax preparation. That is why, TaxIFTA.com, a product of ThinkTrade Inc. is here to share a helping hand in preparing your taxes and waving off the errors. Also, you don’t have to bother about the calculations as the online application would take care of it. Preparing IFTA return online with TaxIFTA.com welcomes easiness, simplicity and consumes less time.
However, for your reference, IFTA tax calculation is done based on gallons used and the miles covered at the end of the fiscal quarter and payment are made to the following jurisdiction. Every state jurisdiction implies different ways of calculating their tax amount so as a taxpayer, you need to key in the right information and the calculations would take place, eventually.
The 3rd quarter due date i.e. 31st October 2014 is not too far from our calendar and thus TaxIFTA.com is inviting you online to experience authenticity and submit your return on time, without the invasion of penalties. Also, you can rely on the customer support available for your assistance. Reach us @ 1-866-245-3918 or shoot a mail to email@example.com. Our tax experts are versatile and knowledge geeks, upgrading from time to time. So when you get stuck somewhere, don’t hesitate to ring us. We’re here to serve you with your requirements.