['Fleet Taxes']
['IRP and IFTA recordkeeping']
01/31/2024
...
The International Fuel Tax Agreement (IFTA) and International Registration Program (IRP) have virtually the same requirements for recordkeeping, whether keeping records on paper, using a global positioning system (GPS), or using an electronic logging device (ELD). The closer those records are to including all of the items on the list, the better the chances are the carrier will receive an adequate rating.
Below are a few actions that can be taken to ensure carrier records are deemed adequate:
- Odometers: Make sure divers are tracking trip-start and -end odometer readings. In many jurisdictions, the odometer readings are critical to, and the sole basis for, an adequate rating.
- Routes: Ensure drivers are tracking routes of travel. Getting from point A to B can be done in many different ways, and the route of travel helps to validate the distances recorded for trips.
- Summaries: Create monthly and quarterly summaries of distance and fuel data. This is a great habit to get into because not only are summaries a best practice “internal control,” they can help ensure the data collected throughout the month and quarter is accurate and makes sense. In an audit, it’s likely that an auditor will ask for that data anyway. Auditors love it when they can reference summaries and test accuracy with trip reports, saving time for both parties.
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