Written by Yesenia Carrillo
IFTA, Inc. has published final tax rates for 1st Quarter 2016 filings. TRUCKeSERVICES.com is happy to announce that the new tax rates have been uploaded to our website and can now be used for 1st quarter reporting. The fuel tax rate determines the actual tax that is owed to each state for fuel used within the state. Some states have higher rates than others.
Updated tax rate table enables TRUCKeSERVICES to perform early tax calculations. An early start on tax filings helps agencies use their time more efficiently!
How Will Early Tax Calculations Save Time?
Do you have a client that is going out of business before the end of the quarter? Their return can be completed once tax rates are updated. That gives a preparer more time to spend on the rest of their clients.
If a client does not drive through the end of the quarter – once the trip data is entered, their return can be finished early. Again, this gives preparers more time to spend on the rest of their clients.
When clients wait until the last minute to send in their trip data, work for the preparer stacks up. The challenge is completing all the quarterly filings on time. Trip data is not usually perfect and may require extra time to resolve gaps or questions. The more that can be completed early, the easier meeting the filing deadline becomes.
Early tax calculations will assist a tax preparer become more efficient and productive with their client’s tax filings. Are you ready to file 2016 1st quarter? TRUCKeSERVICES.com is available and ready to rock!
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