How often does a trucking company file IFTA returns?
IFTA returns are filed quarterly. The four deadlines each year are April 30 for the first quarter (January through March), July 31 for the second quarter (April through June), October 31 for the third quarter (July through September), and January 31 for the fourth quarter (October through December). These deadlines don’t move, so mark them well ahead of time.
You file with your base jurisdiction, which is the state where your carrier is registered. For trucking companies based in New York, that means filing with New York State. The IFTA system exists so carriers don’t have to file separately with every state they drive through. Instead, you submit one quarterly return that reports miles driven and fuel purchased in each jurisdiction. The return calculates whether you owe additional fuel tax to certain states or are owed a credit.
Filing accurately requires two sets of records. First, miles driven in each jurisdiction. Second, gallons of fuel purchased in each jurisdiction. Your drivers need to track where they fuel up, and your fleet needs trip records showing routes and distances. GPS and ELD data help with mileage, but fuel receipts still need to be saved and organized by state.
Late filings come with penalties and interest that start accruing right away. The penalty is typically a percentage of the tax owed, and interest runs from the original due date. If you miss multiple deadlines, your state can suspend your IFTA license. Without a valid IFTA license, your trucks cannot legally cross state lines. For any interstate carrier, that effectively means you cannot operate.
The bookkeeping side of IFTA compliance is where most carriers fall behind. Fuel receipts pile up in glove compartments, mileage records have gaps, and the quarterly deadline arrives before anyone has pulled the data together. When your books are maintained consistently throughout the quarter and fuel purchases and mileage are already tracked in your accounting software, preparing the IFTA return becomes routine instead of a last-minute scramble.
If you are running a trucking operation out of the Bronx or elsewhere in NYC, staying on top of these filings is not optional. Our Bronx bookkeeping services can help keep your fuel and mileage data organized between filings so that when each quarterly deadline arrives, the numbers are ready to go and you avoid penalties that eat into already tight margins.
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