First time getting audited. Does anyone know he penalty for not having what the request? I have most of what they need but it's not all accurate. Just curious which route I should take.
NJ IFTA Audit
Discussion in 'Ask An Owner Operator' started by Ziggy6953, Oct 28, 2014.
Page 1 of 2
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
Stay up all night till you get every thing in order or you will be paying a fine split up to every state in the IFTA program?
-
What isn't accurate and why isn't it accurate? The answer to those 2 questions will give you a better idea as to how you should proceed. For example, if your mileage is inaccurate because your vehicle speed sensor malfunctioned, you'll get more leniency than if you intentionally shaved miles in high-tax states or didn't report all of your gallons used (ie you stole fuel, ran "off road" untaxed fuel, or even "lost" a fuel receipt or two from low-tax states while running miles in high-tax states) in order to bump up mpg's.
In other words, were they honest discrepancies or intentional? -
I'm just curious what would be the fine if I showed her nothing?
-
-
If it were me I would try to postpone the audit until you get things in order. What are they asking to check?
-
My biggest problem is fuel receipts. And my log books don't exactly match where I drove to the point
-
The fines will be what the think your tax liability is, plus penalties in the thousands of dollars. They will assume you operated the same averages as all other companies and charge you accordingly, usually many thousands of dollars over what you actually owe. A local towing company I know (family friend) did not have fuel receipts or any other records and they fined him $10,000 in penalties, $8,000 in estimated taxes due, and $250 per set of decals he had that were incorrectly displayed on his trucks (he had 16 sets of decals but only needed 3). His right to participate in IFTA and hold apportioned plates was suspended for three years, and they attached that suspension to the VIN numbers of each of his trucks so he could not sell them or lease them to another company that operated interstate for that three year period.
If you do not have fuel receipts with the location, gallons, time, etc on them get ahold of your fuel card or credit card company and see if they can get you reprints, make up state line crossing sheets that accurately reflect your operation, and find or create everything else they are looking for or you will be in big trouble, and tax debt does not go away, even with bankruptcy or going out of business.
The state and Feds take IFTA tax very seriously, you need to get your records in order now, have as much as possible to reduce the potential for penalties.
Good luck. -
i have fuel receipts but not from all states that I drove in. I mostly filled up in Jersey where has was cheaper. What would the fine for the other 4 states I put down but have very few fill ups from them? -
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 1 of 2