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When truckers and transportation businesses need to move through and do business in more than one state and in Canada, having to calculate gasoline taxes and obtain permits for each one would be crippling. The International Fuel Tax Agreement allows truckers to operate under a single license and file a single report for all 48 U.S. states and all Canadian provinces (territories are not members).
This vastly expands the options available to drivers on the road. Drivers now enjoy streamlined access to the whole continental United States and most of Canada, rather than enduring lengthy and inefficient application processes in each state and province, according to the IFTA tax report. Drivers now have the ability to directly meet the needs of clients over this wide area. While the process is more convenient than it was previously, there are still key reporting requirements that trucking businesses must meet.
Businesses with an IFTA license continue to purchase fuel as usual, but are "credited" with any fuel taxes paid. They file an IFTA fuel tax report for each fiscal quarter (by the end of April, July, October, and January each year), detailing how much they have travelled and how much gasoline they have spent in each IFTA country. Each jurisdiction's tax liabilities are calculated using a method that takes into account average fuel mileage. You'll get a list of what you've already paid to each member state/province, as well as if you owe more or have overpaid.
Is it necessary to submit an IFTA fuel tax report and apply for an IFTA license? This rule does not apply to all cars, and most drivers can easily move between states and provinces without the need for further licensing or reporting. The IFTA applies to specified commercial vehicle classes or vehicles authorized for specific use cases.
If your automobile:
✔ is used to transport people or property
✔ has three or two axles as well as an actual or registered gross vehicle weight greater than 26,000 lbs. (11,797 kgs) — or if the actual or registered gross vehicle weight exceeds 26,000 lbs. (11,797 kgs) in combination
The Act then qualifies it, and you must file the IFTA quarterly fuel report.
Penalties
Failure to file the trip report, late filing, and underpayment can all result in a penalty of 10% of the amount owed or $50. It should be noted that interest will be charged on the amount owed to each member jurisdiction.
Because jurisdictions determine their own rates, the system is based on correctly submitted IFTA reports. Failure to comply with the regulations can not only cost you money if you owe gasoline taxes in any member jurisdiction, but it can also harm your company's reputation. Even though many trucking firms can complete and file much of the essential paperwork and reports online, all of this time-consuming administrative labor eats up valuable time that the company would rather spend driving and making money. That is why American Movers LLC is delighted to relieve you of the IFTA reporting requirement.
This is what American Movers LLC Dispatch's IFTA Fuel Tax Reporting Service is all about. We believe in making our clients' lives easier by removing many of the difficulties they confront when they travel. We understand that you enjoy driving and providing excellent service to your customers - it's how you make a living. You didn't get into truck driving because you enjoy filling out paperwork and submitting fuel tax reports.
Here's an overview of what you may expect from our services
A Way to Save Money and Protect Your Profits in Your Business
When properly reported, the IFTA fuel report can save you and your company money on fuel taxes, as well as time and hassle. With American Movers LLC on your side, you won't have to worry about overspending on fuel tax since we'll make sure everything is handled correctly. You'll find it much easier to run your firm, and you'll be able to secure your revenues in the process.
Complete transparency for both you and your customers
Your company's success is dependent on effective communication with its consumers. These customers want to know what is going on at all times and do not anticipate any delays or hang-ups. Applying for permits and submitting tax reports can make this difficult, which is why truck drivers value our services so much. You'll also like the increased transparency and comprehension.
From Your Perspective, a "Hands-Off" Service
As previously stated, the IFTA rules present a far more straightforward situation than the previous method. However, there are still considerations and issues that must be addressed. Allow us to manage those concerns for you, providing a completely "hands-off" solution that allows you to concentrate on other elements of operating your business.
A Simple Path to IFTA Fuel Report Compliance
Drivers are usually concerned about compliance. You don't want a noncompliance issue to jeopardize your business and livelihood, and you don't want to be stressed out about whether you're following the rules and regulations. With the American Movers LLC service, you may be confident that you are entirely compliant at all times. So the only thing you have to be concerned about is driving.
You must have confidence that you can rely on a qualified and knowledgeable team to give you with the essential assistance while on the road. We are available to answer any questions or concerns you may have concerning the IFTA quarterly report.
These are just a few of the reasons why our IFTA fuel tax reporting services are so valuable to truck drivers across the United States and beyond. We ensure that the IFTA regulations give the advantages and benefits intended, rather than producing additional complications for you and your business.