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  • Form 720 (rev. October 1998). Quarterly Federal Excise Tax Return

Get Form 720 (rev. October 1998). Quarterly Federal Excise Tax Return

E separate instructions. FOR IRS USE ONLY If you are not using a preprinted label, enter your name, address, employer identification number, and calendar quarter of return. See the separate instructions. Name Quarter ending Number, street, and room or suite no. (If you have a P.O. box, see page 2.) Employer identification number T FF FD FP I City, state, and ZIP code (If you have a foreign address, see page 2.) Check here if this is a final return or a one-time filing T (S.

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IRS is currently accepting electronically-filed Forms 720. Forms can be submitted online 24 hours per day.

Your business needs to fill out IRS Form 720 if you sell goods or services that incur excise taxes.

As the IRS continues to work to implement the new law, the agency will treat 2023 as an additional transition year. As a result, reporting will not be required unless the taxpayer receives over $20,000 and has more than 200 transactions in 2023.

The penalty for filing late is 5% of the total tax assessed that was not paid when due. It is charged each month or part of a month the return is late, for up to 5 months.

Although Form 720 is a quarterly return, it is filed annually for PCORI fee purposes, by July 31 of the year following the last day of the policy/plan year. For policy/plan years that ended on/after October 1, 2022, and before October 1, 2023, the PCORI fee is $3.00 per person.

June 21, 2023 The IRS has released a revised Form 720, Quarterly Federal Excise Tax Return, the proper method to file and report PCORI fees. If you owe a PCORI fee, it must be paid using IRS Form 720 by July 31, following the last day of the policy year or plan year.

What is a 720 form? IRS Form 720, the Quarterly Federal Excise Tax Return, is a tax form for businesses that sell goods or services subject to excise tax to report and pay those taxes.

Who files Form 720? Whether you are a manufacturer, retailer, airline or any other business that deals in goods for which excise taxes are due, you have a responsibility to file a Quarterly Federal Excise Tax Return on Form 720 up to four times per year, depending on the circumstances.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232