The Internal Revenue Service encourages taxpayers to take important actions this year by choosing electronic filing their federal tax returns in 2022. Electronic filing is the easiest way to complete a tax return and file it with the IRS in simple steps and easy returns. Electronic filing will help you to do your quarterly taxes by yourselves, saves you time and money on tax preparation. You shall receive the IRS acknowledgment instantly and no more waiting time. TaxExcise.com is committed to deliver a safer, easier and prompt service to the Quarterly Federal Excise Tax filers. The electronic filing starts here at $29.99 (for a zero liability return).
Fuel Taxes and Fuel Tax Credits and Refunds
Quarterly Federal Excise Taxes are imposed on all the following fuels, that is reported and paid to the IRS using tax form 720. We support you to prepare and complete the Form 720, eFile and receive acknowledgment instantly using TaxExcise.com. The returns are due the last day of the month following the month in which the transaction occurs. Generally, these returns can be filed on paper or electronically. However filing electronically is easy, fast and safe; receive instant acknowledgement.
- Gasoline, including aviation gasoline and gasoline blendstocks.
- Diesel fuel, including dyed diesel fuel.
- Diesel-water fuel emulsion.
- Kerosene, including dyed kerosene and kerosene used in aviation.
- Other Fuels (including alternative fuels).
- Fuels used in commercial transportation on inland waterways.
- Any liquid used in a fractional ownership program aircraft as fuel.
Fuel Tax Credits and Refunds
Generally, you will provide all the information needed to claim a credit or refund when you properly complete Form 8849, Form 4136, Schedule C (Form 720), Form 6478, or Form 8864. In some cases, you will have to attach additional information. You need to keep records that support your claim for a credit or refund. Federal excise taxes are imposed on certain fuels, listing the nontaxable uses of each fuel and defines the nontaxable uses to claim the refund on the taxes paid.
Environmental taxes are imposed on crude oil and petroleum products (oil spill liability), the sale or use of ozone-depleting chemicals (ODCs), and imported products containing or manufactured with ODCs. In addition, a floor stocks tax is imposed on ODCs held on January 1 by any person (other than the manufacturer or importer of the ODCs) for sale or for use in further manufacture.
Figure the environmental tax on Form 6627. Enter the tax on the appropriate lines of Form 720 and attach Form 6627 to Form 720.
No one is exempt from the environmental taxes, including the federal government, state and local governments, Indian tribal governments, and nonprofit educational organizations.
Communications and Air Transportation Taxes
Excise taxes are imposed on amounts paid for certain facilities and services. If you receive any payment on which tax is imposed, you are required to collect the tax, file returns, and pay the tax over to the government. If the business fail to collect and pay over the taxes, then you may be liable for the trust fund recovery penalty.
A manufacturer who sells a taxable article in knockdown (unassembled) condition is liable for the tax. The term “manufacturer” includes a producer or importer. A manufacturer is any person who produces a taxable article from new or raw material, or from scrap, salvage, or junk material, by processing or changing the form of an article or by combining or assembling two or more articles. If you furnish the materials and keep title to those materials and to the finished article, you are considered the manufacturer even though another person actually manufactures the taxable article.
The following discussion of manufacturers taxes applies to the tax on:
- Sport fishing equipment;
- Fishing rods and fishing poles;
- Electric outboard motors;
- Fishing tackle boxes;
- Bows, quivers, broadheads, and points;
- Arrow shafts;
- Taxable tires;
- Gas guzzler automobiles; and
Retail Tax on Heavy Trucks, Trailers, and Tractors
A tax of 12% of the sales price is imposed on the first retail sale of the following articles, including related parts and accessories sold on or in connection with, or with the sale of, the articles.
- Truck chassis and bodies.
- Truck trailer and semitrailer chassis and bodies.
- Tractors of the kind chiefly used for highway transportation in combination with a trailer or semitrailer.
Foreign Insurance Taxes
Tax is imposed on insurance policies issued by foreign insurers. Any person who makes, signs, issues, or sells any of the documents and instruments subject to the tax, or for whose use or benefit they are made, signed, issued, or sold, is liable for the tax.
Indoor Tanning Services Tax
The tax on indoor tanning service is 10% of the amount paid for that service. The tax is paid by the person paying for the services and is collected by the person receiving payment for the indoor tanning services.
Payment of Taxes
Generally, semimonthly deposits of excise taxes are required. A semimonthly period is the first 15 days of a month (the first semimonthly period) or the 16th through the last day of a month (the second semimonthly period).
However, no deposit is required for the situations listed below; the taxes are payable with Form 720.
- The net liability for taxes listed in Part I (Form 720) doesn’t exceed $2,500 for the quarter.
- The gas guzzler tax is being paid on a one-time filing.
- The liability is for taxes listed in Part II (Form 720), except for the floor stocks tax which generally requires a single deposit.
eFiling Form 720 with the IRS.