IFTA Deadline is Approaching, Are You Ready?
Our Fuel Tax Department wanted to remind you that the deadline for filing your 1st Quarter IFTA taxes and any state mileage taxes is approaching quickly. The reporting deadline of April 30th falls on the weekend, so Glostone must have all of your final mileage and fuel data by Wednesday, April 27th in order to make the Friday deadline and avoid late penalties.
Keep Your Records Straight
When it comes to taxes, organization will save you time and money. By organizing early on, you will be able to get through the chore of fuel tax reporting even faster. At a minimum, turn in your trip and fuel records to us monthly and as early in the month as possible. Tax reports are produced in a first in, first out fashion. Chances are, turning in 3 months of data on the last day will result in a late report.
Glostone Trucking Solutions offers our clients free trip record envelopes to make your manual record keeping as simple as possible. We also offer an electronic submission format where you can fill out and submit your data electronically over the internet. If you want to avoid the manual distance record keeping altogether, talk with us about installing EROAD for automatic capture of your mileage data.
With EROAD, you will not only simplify trip sheet record keeping but you will have a device capable of meeting the new ELD requirement at no extra cost. You can be up and running with no money down. We help manage your system and give you a cost break on your tax reporting as well.
What You Need For Filling Your Record Keeping Requirements For IFTA
- An accurate breakdown of your mileage, by date, by unit, by state along with routes used , odometer readings and beginning and ending trip locations.
- Make sure your fuel receipts contain all of the following minimum required information:
- State where fuel was purchased
- Fuel vendor name and address
- Type of fuel
- Unit Number
- Number of gallons purchased
Work with the experts!
With IFTA fuel tax audits on the rise, more and more carriers turn to Glostone Trucking Solutions to make sure they are ready. We do our job so you can focus on yours.
At Glostone, fuel tax compliance is truly a turn-key solution. From setting up the correct accounts to helping carriers make full use of their existing dispatch, GPS data and/or paper trip record keeping systems. We are the experts in both IFTA and mileage tax reporting.
- Our reporting process starts with monitoring your accounts and the input of your paper or e-mileage and fuel data
- We produce your state’s IFTA Tax report along with any required mileage tax reports, and we can file the reports on your behalf. One check to us files all of your required tax reports.
- Our quality control process insures your data is reported timely and accurately
- We offer trip reconstruction, tax analysis by unit, by fleet or by terminal, assist in any audit
- We will maintain your records for 4 years
Give Glostone’s Fuel Tax Department a call to help you file your IFTA taxes: 503-607-1088.
Interested in learning more about Fuel & Mileage Tax mock audits and consulting? Learn more here.