Taxes are paid in the sweat of every man who labors- Franklin D. Roosevelt. The due date would be here in another two days, and if you have not filed your HVUT or IFTA return, stop thinking of an alternative as there is none. You either land up paying penalties for late filing or pay & file your tax return online with TaxExicse.com and IFTA tax filers; you can prepare your tax return online with TaxIFTA.com to cut short the weight-age of the calculations.
So let us start with HVUT first:
HVUT is imposed on Heavy Highway vehicles with a gross weight of 55,000 pounds or above. The due date for filing Form 2290 is by this month end, i.e. 30th April for vehicles first used in March.
Coming to IFTA, International Fuel Tax Agreement is an agreement between the lower 48 states of the United States of America and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction.
An operating carrier receives an IFTA license and two decals for each qualifying vehicle operating in the jurisdictions. As the taxes are paid on quarterly basis, and the first quarter IFTA due date falls on April 30th 2014. This tax determines the net tax or the refund due and submitted to the base jurisdiction and eventually it is distributed to the other jurisdictions the vehicle has traveled in the quarter.
The fuel tax for IFTA is calculated based on the fuel tax rate of the jurisdiction you have traveled for that quarter. Like say, you traveled to North Carolina and pumped 100 gallons of fuel and drove to South Carolina. There you pumped 200 gallons of fuel and moved to Georgia. While you are preparing IFTA return, you need to ensure you pay your fuel tax to North & South Carolina plus Georgia as per their fuel tax rates fixed by each jurisdiction mentioning the miles you have covered in each of the jurisdiction.
With just 2 days in your calendar, this is the final call for taxpayers to come over and file HVUT tax online and prepare and IFTA with TaxExcise.com in minutes. We are sure you don’t want to pay interest and penalties.
So come over and pay your HVUT dues, prepare your IFTA return online and get over the obligations you are carrying on your shoulders. For more assistance, do not hesitate you reach us @ +1-866-245-3918 or simply shoot an email to support@taxexcise.com. We are a proud service provider, never letting you down.