Get In Dor Ivt-1 2022

The Indiana Department of Revenue Form IVT-1 is essential for reporting fuel inventory held for sale during tax rate changes. This guide provides clear, step-by-step instructions to help users complete the form accurately and efficiently online.

Follow the steps to fill out the IVT-1 form successfully.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. In Section A, provide your taxpayer information. Fill in your legal business name, federal identification number, and DBA name if applicable. Enter your Indiana taxpayer identification number and physical street address, along with the 3-digit location number if required. If filing a consolidated return, check the box and attach a listing of all locations along with the corresponding gallons.
3. Complete Section B for tax computation. Enter the total whole gallons of fuel in inventory for both gasoline and special fuel. Indicate the amount of tax rate increase applicable to your inventory.
4. Calculate the inventory tax due by multiplying the total gallons from Line 1 by the tax rate increase from Line 2.
5. Add the amounts from both fuel types for the total tax due. Calculate any penalty if the return is submitted late, which is either 10% of the total tax due or $5, whichever is greater, and indicate it on Line 5.
6. If applicable, calculate the interest according to the provided example based on how many days late the payment is. Ensure to check the current interest rate on the Indiana Department of Revenue website.
7. Define the total amount due by adding the amounts from Line 4, Line 5, and Line 6.
8. Certification: Print your name, sign, and date the form to certify the information provided is accurate.
9. After reviewing the completed form for accuracy, you can save changes, download, print, or share the form for submission.

Complete your IVT-1 form online today for a seamless filing experience.