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Federal Excise Tax Form 720 is Due for the Second Quarter!

Hello taxpayers! The federal excise tax Form 720 for the second quarter of this tax year is due on July 31, 2023. Also, annual PCORI taxpayers should report their taxes using Form 720 during the second quarter of the tax year. IFTA taxes are also due for the second quarter on July 31, 2023. Therefore, Form 720 and IFTA taxpayers must be aware that the deadline is approaching in ten days, and you must complete the deadline to report and pay Form 720 and IFTA taxes. TaxExcise.com offers a convenient platform to e-file Form 720 smoothly and accurately to the IRS. Since IFTA taxes must be filed manually, TaxExcise.com supports online IFTA tax preparation, where you can prepare your IFTA tax reports for the quarter accurately in our platform and download and print them to paper file manually.

Federal Excise Tax Form 720. 

The federal government imposes excise taxes on products like gasoline and aviation fuels and specific services like indoor tanning and PCORI. The owners, dealers, and consumers of those products/services must pay their federal excise taxes every quarter of the tax year using Form 720 to the IRS. You can easily e-file form 720 in TaxExcise.com in just a few steps. As Form 720 contains many products and services and is segregated into two parts, TaxExcise.com has the best interface to quickly choose your product or category, prepare your taxes, and report them to the IRS. You will experience a smooth Form 720 e-file process on our platform. Remember the deadline is approaching; e-file Form 720 today to stay ahead of the last date.

Form 720 – The Annual PCORI Fee.

The Patient-Centered Outcomes Research Fee (PCORI Fee) is imposed under the ‘Affordable Care Act’ to fund the Patient-Centered Outcomes Research Institute (PCORI). This fee is charged on specific health plans and health insurance policies. The PCORI fee is paid annually using Form 720 during the second quarter of the tax year. You can quickly e-file form 720 for your annual PCORI fee by selecting the PCORI section in the online TaxExcise.com form 720 e-filing application. As the annual PCORI fee reporting due date falls on July 31, 2023, you should e-file form 720 today at TaxExcise.com and stay ahead of the deadline.

Online IFTA Preparation.

IFTA, the International Fuel Tax Agreement, is a tax collection agreement by and among the 48 contiguous States and the 10 Canadian Provinces bordering the US. IFTA is filed every quarter by interstate motor carriers. TaxExcise.com offers a comfortable online platform to prepare your IFTA tax reports online. You can then download your reports and file them with your state authority. The last date to report your IFTA taxes for the second quarter of this tax year is July 31. So, prepare your IFTA taxes at TaxExcise.com today to file them before the deadline.