Tag Archives: Form 720

Decoding Form 720 Federal Quarterly excise tax return

The IRS Tax Form 720 is used to report and pay the Federal Excise tax returns with the IRS. Taxes are filed year on year, quarter to quarter; yes, another year, another tax return. We inch closer to the 2nd quarter filing deadline, July 31 is the last date to get it reported with the IRS.

IRS Tax Form 720 – Federal Excise Tax Reporting

Many of the business taxpayers who deal with specific goods or services that are manufactured in or imported into the U.S. incur Excise Taxes which is often included in the price of the product, like gasoline or alcohol, so you might not even realize you’re paying them.  Let us redefine some of the general question exactly what is Form 720? What is an excise tax? Well before starting with Form 720, let us know that IRS Form 720 consists of three parts, as well as Schedule A, Schedule T, and Schedule C sections and a payment voucher (called Form 720-V). If your business is responsible for completing Form 720, you must do so quarterly and can file electronically or by mail. Payments for excise taxes, however, are required on a semimonthly basis and should be made by electronic funds transfer.

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Second Quarter Federal Excise Tax Online Reporting is Due this July 31

The federal quarterly excise tax returns are due now for the 2nd Quarter of 2019. Electronic filing could save your time, effort and money. Yes, getting started with Form 720, Federal Excise Tax reporting is easy and fast at TaxExcise.com.

Federal Excise Tax Reporting

If your business deals in goods and services that are subject to excise tax—like air transportation, indoor tanning service, PCORI, fishing equipment, or gasoline—then you’ll have to complete IRS Form 720. Form 720 must be filed with the IRS on a quarterly basis in order for your business to report and pay your federal excise tax liability.

Although many business owners still prefer to work on paper, you may be able to save yourself both time and hassle by utilizing the IRS’s e-file program. Completing the form electronically will save you money on paper and stamps—plus, you won’t be relying on your mailing system to make sure you meet your deadline. 

Continue reading Second Quarter Federal Excise Tax Online Reporting is Due this July 31

Less Than 24 hours remaining to File These Tax Forms!

May we have your attention please, Less than 24 hours in hand to File Three Tax Form that are due TODAY April 30th 2019. Being an IRS Authorized E-file Service Provider it becomes our responsibility to remind Every Tax Payer about upcoming tax Deadlines for the month and where to get it done with ease.

Taxes that are Due Today: Continue reading Less Than 24 hours remaining to File These Tax Forms!

Tuesday April 30th: Due Date to File Three Taxes!

Time and Tide waits for none! Very old saying but suits every situation especially when it comes to Taxes. April is not only the Month to file and Pay your Personal Income taxes but has few other deadlines as well. Continue reading Tuesday April 30th: Due Date to File Three Taxes!

Form 720, Quarterly Excise Tax Return for 1st Quarter of 2019 is due NOW!

Form 720 is a quarterly excise tax return that some; businesses must file with the Internal Revenue Service. According to the IRS, “Excise taxes are taxes paid when purchases are made on a specific goods, such as gasoline. Excise taxes are often included in the price of the product” If you accrue excise taxes in the course of doing business, you should know the rules on filing 720 taxes.

Who Must File Continue reading Form 720, Quarterly Excise Tax Return for 1st Quarter of 2019 is due NOW!