January 23, 2021

Tips to IFTA Reporting: IFTA Audit Procedures

IFTA audit is always considered as a time-consuming and tiresome task. These IFTA audits are the consequences of random filing mistakes while filling it inaccurately. Once your fleet gets picked for an IFTA audit, you will be given a notification which will inform you about the audit.

Taxation is the price which civilized communities pay for the opportunity of remaining civilized. –  Albert Bushnell Hart

Within four weeks of receiving that notification, one committed reviewer will approach you. Certain preliminary info will be inquired regarding your fleet by the auditor to find context for the review. You must amass all this information as quickly and correctly as feasible. Other major things that you have to prepare are the distinct IFTA reports like all of the fuel charges, fuel cards expenses and other statements.

The precision of this information will be confirmed by the auditor. The reviewer will also assess the overall mileage travelled by your driver as well. He will make a comparison of your presented reviews with the odometer readings. When this information is organized and shared, the reviewer will have a preliminary visit with your firm. If you are seeking to know more information about etrucks ifta tips check out the above mentioned site.

The auditor would seemingly like to discover your services and process for filing IFTA details. He will be looking for the entries reported inaccurately or that which do not match up with the records. When the fuel-filled is recorded without any logged miles, then it will be marked as a red flag. This is the completely wrong distance documented with no fuel invoices or wrong distance.

Once the analysis is complete, you will have one month to reply back . Your options to respond back will consist of, no action, accept and challenge. No action will be applied if no errors are identified. In case, you accept the review then, take the consequences . If you don’t agree with the consequences, you can dispute it by preparing documents that will disapprove the review outcomes. You can also ask for a broader evaluation or even require a new judge.

Fuel tax

The audit might request access to all fleet vehicles, but you can ask for to offer access to a sample of your vehicles. You can also demand a time postpone. Typically, the auditor will want to see original driver records even if your fleet uses a documenting program. You must be certain to keep these real records.

The IFTA auditors also have access to datasets such as the dates and times once the bridges of some certain regions were from service. Someone in your organization has to be a point of contact for the auditor to streamline interaction. You can do IFTA reporting from different types of approaches that suit you. You must be combat-ready which will assist you to save time that will be used up while seeking the missed IFTA details.

Video credit: expressAmber

It’s very challenging to replicate the tasks that you have completed before. There may be mess in your recording procedure which you are not well-informed of. Taking regular ideas from the drivers and other staff is a great way. It will aid you to make every possible improvement you may earn to record IFTA fuel tax properly. This will also aid you to get more involved and have a precise track of IFTA fuel reviews.

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Tips to IFTA Reporting: IFTA Audit Procedures

by Brookso time to read: 2 min