ROCK HILL, SC / ACCESSWIRE / October 3, 2022 / The International Fuel Tax Agreement (IFTA) was created by the United States (excluding the District of Columbia, Alaska, and Hawaii) and ten Canadian provinces for the purpose of truck drivers reporting fuel purchases and miles traveled in each jurisdiction to their base jurisdiction quarterly. By doing so, the base jurisdiction can distribute the taxes to each state the fuel was purchased in. Reporting IFTA is required when a vehicle weighs more than 26,000 pounds, has three or more axles, and travels through two or more jurisdictions.
It is important to keep truck of fuel receipts and IFTA tax rates because rates are subject to change every quarter and it can get challenging to calculate it manually. This makes it more likely that the IFTA report will not be accepted and by the time it is resubmitted, the filing can be late and will be subject to late fees.
October 31st, 2022 is the IFTA deadline for the duration of the third quarter period. It is important that all of the information including the fuel purchased and miles traveled in each jurisdiction is reported correctly before the deadline. To make sure this happens, TruckLogics does all of the calculations and keeps track of IFTA tax rate changes.
Once the required information is entered, either manually, through a provided excel template, or via Motive, TruckLogics will generate IFTA reports in acceptable state-specific formats. It is a full Trucking Management Software that is designed to streamline trucking business operations that also offers an IFTA-only option.
By using TruckLogics as a Trucking Management Software, truckers can create loads, dispatches, invoices, track income and expenses, manage truck maintenance, pay drivers, and much more. There is a no-obligation 15-day free trial available for those who want to see if TruckLogics Trucking Management Solution is right for them. IFTA reporting is also available but only with a preferred or premium plan.
Generate an IFTA report now at TruckLogics.com to quickly generate an accurate IFTA report where the tax rates are automatically calculated.
TruckLogics, a leading Trucking Management Software, has been helping hundreds of trucking fleets streamline their business operations with both the full TMS and its recently added IFTA-only option.
When asked about the start of IFTA reporting for the third quarter Agie Sundaram, the CEO and Co-founder of SPAN Enterprises, the parent company of TruckLogics, responded, 'TruckLogics provides an IFTA reporting solution that does all of the calculations and keeps track of the IFTA tax rates for you. Report your third quarter IFTA with TruckLogics today, and if any concerns arise, our locally-based support team is available to answer any questions you may have about the software.'
SPAN Enterprises, the parent company of TruckLogics, creates industry-leading solutions for IRS tax e-filing and the transportation industry. Located in the heart of downtown Rock Hill, South Carolina, SPAN Enterprises is proof that big ideas can grow and thrive in a small town.
SPAN Enterprises develops, supports, and grows powerful applications. This includes TaxBandits, ExpressTaxExempt, ExpressTruckTax, ExpressExtension, and more. Learn more at https://www.spanenterprises.com/.
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SOURCE: SPAN Enterprises
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