Tag Archives: Fuel Taxes

Reporting Form 720 (Quarterly Federal Excise Tax Return)

www.TaxExcise.com / www.Tax720.com is a pioneer application to report Form 720, Quarterly Federal Excise Taxes to IRS electronically or by a traditional paper filing method.

Purpose of Form:

Form 720 and attachments can be used to report liability by IRS No. and pay the excise taxes listed on the form;

List of few excise taxes reported on Form 720 are: Continue reading Reporting Form 720 (Quarterly Federal Excise Tax Return)

Reasons to E-file Your Excise Tax Return with TaxExcise.com

You are still in Stone Age if you are still paper filing your Excise Tax returns. More than 80 percent of the taxpayers file their taxes electronically. The IRS has processed more billion’s tax returns safely and securely since 1990, the Official beginning of Efiling ERA. Very few still stick with paper filing

Below are the important reasons to switch to Efiling:

  • Trust Technology for Accuracy: For simple calculations we use our mobile phones or calculators these days, for accurate tax calculations it’s always recommended to Efile your tax returns. IRS will reject your Tax return or your claim for simplest of calculation mistake, which can happen mostly when you try to Paper file your Tax return.
  • Safety First:  E-file service provider like TaxExcise.com follows strict guidelines to provide the best in             encryption technology. When logged in to TaxExcise.com you will be in a “secure session” that is established with Secure Sockets Layer (SSL) and verified by COMODO’s Global Site Certificate Technology. While           connected with SSL, every transmission between your computer and our websites are encrypted with 128-bit (strong) encryption.
  • Response at the drop of a hat. You receive instant acknowledgement from the IRS on a tax return that is E-filed through TaxExcise.com. If the IRS rejects your tax return, you will receive an instant notification and you can quickly correct the return and resubmit it. An e-filed claim means a three times faster refund             compared to paper return.
  • Various options to pay-off: While e-filing one can enjoy different payment options like EFW Electronic Funds Withdrawal from the bank account, EFTPS Electronic Federal Tax Payment System or can even opt to the traditional check or money order option.

All the above mentioned points about E-filing can be summed up to one word “SIMPLE”.

www.taxexcise.com and www.extensiontax.com serves as a one stop shop for all your excise and extension tax needs. For all your Excise and Extension tax related questions call us @ 1-866-245-3918 or write to            support@taxexcise.com.

What Is IRS Form 720?

Companies and individuals that do business in the United States are required by law to file taxes with the federal government. A variety of forms are required based on varying circumstances of the individual taxpayer or company. A Form 720 is also known as a Quarterly Federal Excise Tax Return.

Purpose of Form 720:

The Quarterly Federal Excise Tax Return is used to file and pay excise taxes due on a quarterly basis to keep liabilities under control. Select companies are required to pay excise tax to the federal government depending on their business. Companies that engage in the sale of gasoline or tobacco or in services including indoor tanning may be required by law to file an excise tax return. Continue reading What Is IRS Form 720?