So filers, a very warm welcome to our blog. Today, at our blog, we are here to remind excise tax filers to file and report form 720 online or paper file if you are into business and deal with sales of goods and services of the product mentioned under the form.
Quarterly Excise Tax Return is filed on form 720 and the first quarter is due by April 30th 2015. The tax includes the goods sold to a customer like gasoline for your car or flight charges and paid by the dealer or the business who deals with the products and services.
The form is divided into part I and II, dealing with its respective liabilities. However, you need to check thoroughly regarding the requirements framed by the government based for each business. The taxes are calculated on varied grounds for each of the service or product, and you have be little sure of the tax calculations or IRS would simply reject your form 720. Also, do remember, there are no extensions applicable for this form, and thus, you are liable to pay and file your return without expecting a grace time.
When Is The Form 720 Due?
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