Excise Tax Insights

Form 720 Filing Guides & Resources

In-depth guides on federal excise tax categories, compliance requirements, quarterly deadlines, and Form 720 filing for businesses across every industry.

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Guide

4 Inputs Behind Form 720 (EIN, IRS Nos., Liability, Quarter)

The four essential Form 720 filing inputs โ€” EIN, IRS Numbers, tax liability, and filing quarter โ€” and how to get each one right.

Education

Is Form 720 the Same as a Sales Tax Return?

Federal excise taxes vs state sales tax: who files what, where, and the key distinctions that keep you compliant.

Education

Federal vs. State Excise Taxes: What Form 720 Covers

Which excise taxes belong on your federal Form 720, which stay with your state, and which go to other agencies.

Guide

What Happens After Filing Form 720?

IRS review, payment application, possible notices, corrections with Form 720-X, and your recordkeeping duties.

Education

Form 720 Myths: Costly Mistakes Businesses Should Avoid

The most common Form 720 misconceptions โ€” deadlines, deposits, business size โ€” corrected with the actual rules.

Guide

First-Time Form 720 Filing Checklist

Everything you need before filing your first federal excise tax return: EIN, tax categories, deposit requirements, and deadlines.

Guide

Form 720 Excise Tax Categories Explained

A complete breakdown of all Form 720 excise tax categories: fuel, environmental, communications, air transportation, indoor tanning, and more.

Guide

7 Common Form 720 Filing Mistakes

The most costly Form 720 errors โ€” wrong EIN, missed schedules, outdated rates, skipped deposits โ€” and how to avoid every one.

Compliance

Semi-Monthly Deposit Rules Explained

When EFTPS deposits are required, how to calculate each deposit amount, and what penalties apply for missing them.

Guide

Fuel Excise Taxes on Form 720

Gasoline, diesel, jet fuel, aviation gasoline, CNG, LPG โ€” tax rates, who pays, and how to claim credits for nontaxable fuel sales.

Guide

Form 720 Payment Methods Explained

EFTPS, check, and credit card options for paying excise taxes. Which method is required for deposits vs. quarterly balance due.

Compliance

Indoor Tanning Tax on Form 720

The 10% indoor tanning services excise tax: taxable vs. non-taxable services, how to calculate, exemptions, and how to report.

Compliance

Environmental Excise Taxes & Form 6627

Petroleum oil spill tax, Superfund chemical taxes (reinstated 2022), and LUST tax โ€” how to calculate and report on Form 720.

Compliance

Air Transportation Excise Taxes

7.5% domestic ticket tax, segment fees, international departure/arrival taxes, and air freight. Complete guide for airlines and charter operators.

Compliance

Communications Excise Tax: What Businesses Need to Know

The 3% federal communications excise tax: which services are taxable, what exemptions apply, and how telephone service providers file.

Tax Tips

Form 720 Schedule C Credits Guide

How to claim excise tax credits for fuel sold for nontaxable purposes, exported goods, and other qualifying transactions.

Guide

How to Amend Form 720

Step-by-step guide to filing a corrected Form 720: when to amend, how to check the amended return box, and handling additional taxes.

Compliance

Form 720 Recordkeeping Requirements

What records to keep, how long to retain them, and how to organize documentation to support excise tax filings and credit claims.

Tax Tips

Form 8849: How to Claim an Excise Tax Refund

Form 8849 schedules, who qualifies, when to use it vs. Schedule C credits, deadlines, and the process for claiming a cash refund.

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Quarterly Tax Experts

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