Take advantage of our special October 2024 promotion! All clients who apply for, or renew their company IFTA account license during October 2024 will receive free IFTA tax return filings for all four quarters of 2025, plus a free filing for the fourth quarter of 2024. This limited-time offer is designed to help you save on your IFTA tax filing costs while ensuring smooth and timely filings.
Name: INTERNATIONAL FUEL TAX AGREEMENT
Regulation Code: State-specific
Due Date: Previous Quarter reported in the following month.
Requirement: Mandatory
Who is it for?:
Questions: (240) 544-0960
Email: IFTA@HOFFENMER.COM
Chat: CHAT WITH AGENT
Managing IFTA quarterly tax returns requires accurate reporting of fuel purchased and miles traveled across different jurisdictions. Filing services ensure timely submission of the necessary documents, minimizing the risk of penalties and audits. Each quarterly filing includes:
Setting up an IFTA account is crucial for carriers operating in multiple states or provinces. This process involves registering with the appropriate state authority to obtain an IFTA license and decals. Assistance includes:
Annual IFTA license renewals are essential for continued operations. Services include the preparation and submission of renewal applications to maintain the validity of the IFTA license and decals. The renewal process ensures:
Understanding IFTA regulations is key to avoiding penalties and ensuring smooth operations. The International Fuel Tax Agreement requires carriers to adhere to specific rules regarding fuel tax reporting, record-keeping, and mileage tracking. Important aspects of IFTA compliance include:
Each state participating in the International Fuel Tax Agreement may have unique requirements and processes for registration, renewals, and tax calculations. Services provide insights into:
Navigating the complexities of IFTA regulations and ensuring accurate filings can be challenging. Professional support helps to streamline this process, offering:
The IFTA account must be maintained in GOOD STANDING to ensure timely renewal processing and the filing of quarterly returns. Accounts with missing or incomplete previous quarterly filings will experience delays in renewal processing and may incur additional fees to bring the account into GOOD STANDING.
If other tax accounts associated with the applicant, such as franchise, personal, or sales tax accounts, are NOT in GOOD STANDING, it may result in a delay or denial of the IFTA renewal application.
Submitting inaccurate mileage or fuel reports may result in additional fees for corrections and adjustments. Mileage Per Gallon (MPG) reports must fall within a range of 2 to 8 MPG. Submissions outside of this range are subject to rejection or denial by the state.
By signing the application, the applicant grants express authority for filing and reporting to be conducted on their behalf. A notarized Power of Attorney (POA) may be required before proceeding with the filing and reporting process.
Eligibility for free quarterly IFTA tax return filings for all four quarters of 2025 is strictly conditional upon the timely submission of accurate fuel and mileage data. The required data must be submitted no later than five (5) days prior to the IFTA quarterly tax filing due date for each quarter to maintain eligibility for the incentive.
Failure to provide the required mileage and fuel data by the specified deadline will immediately forfeit eligibility for the free filing incentive. In such cases, the applicant will be required to submit supplemental information:
To retain eligibility for the free filings, it is imperative that miles traveled and gallons of fuel purchased are reported accurately for each quarter. Submitting such data at least five days before the due date is mandatory. Failure to do so will result in the loss of the free filing incentive and the imposition of additional charges as outlined above.
IFTA accounts must be maintained in good standing to qualify for renewal processing. Accounts that are flagged by the state as delinquent are ineligible for renewal until they meet the required standards of good standing. The Processor reserves the right to assess additional charges as necessary to bring accounts into good standing. This includes the processing of outstanding quarterly tax returns and any penalties or fines imposed by the state.
Applicants who complete their filings during the month of October 2024 are eligible to receive one additional free quarter of processing for the 4th quarter of 2024. This incentive is subject to the conditions outlined above, including maintaining good standing and timely submission of required data.