IFTA MISTAKES & OMISSIONS
Mistakes and omissions made in the completion of your IFTA reports, or late reporting of miles or fuel purchases, could put your company at risk of an audit.
And if you’re audited, missing this information could result in penalties. Auditors can choose to recalculate reported taxes by dropping your reported miles per gallon by 20%, or by dropping the miles per gallon to 4.0 (a lower MPG means higher taxes), not to mention adding interest.