It’s a point we’ve made plenty times before, but driving is just a part of the trucking business. Another part is IFTA and the maze of government paperwork that carriers have to file four times a year. Crunching the numbers and sorting through the red tape is enough to make your eyes go crossed, so why not let Getloaded do it for you?
What Is IFTA?
IFTA stands for the International Fuel Tax Agreement, and it applies to the every U.S. state except for Hawaii and Alaska, and covers Canada’s 10 provinces. It’s intended to make fuel taxes simpler by allowing carriers to pay the state they’re based in instead of having to file fuel taxes in every state you drive in. To file, you need to keep detailed mileage and fuel records, which includes saving all fuel receipts (or tickets for bulk fuel purchases), odometer readings, dates, and miles/kilometers for the state or province you traveled through. You also have to keep these records for four years.
IFTA applies to any vehicle that a) regularly crosses state lines for commercial purposes (like carrying freight) and b) weighs more than 26,000 pounds or has three or more axles. Any truck that fits the bill needs to display an IFTA decal, which expires on Jan. 1 every year, though there’s a grace period through the end of February for renewing. After that, you could be subject to a fine for an expired decal.
Get IFTA Compliant
Not filing IFTA returns or getting it wrong can also equal some pretty hefty fines, so organization is key. Instead of investing in doing it yourself by hand or learning some new IFTA software, let GLAuthority take care of filing for you. Save yourself the headache and let us do the math – we'll make sure you pay exactly what you owe, not a penny more.
And since you have to file these taxes quarterly – they’re due January 31, April 30, July 31, and October 31 of every year – sorting through the piles of forms can be time-consuming. Every minute you spend on paperwork is a minute you’re not spending on the road, where you’re actually earning money. With GLAuthority, you can spend less time behind a calculator and more time behind the wheel.
For more info, email firstname.lastname@example.org or call 866-265-3172