Guide · Getting Started

By File720Online Editorial Team · April 17, 2026

First-Time Form 720 Filing Checklist

Filing Form 720 for the first time? This eight-step checklist covers everything you need to gather, verify, and know before you submit your first federal excise tax return.

Start Filing NowWhat Is Form 720?

Quick Answer

Before filing Form 720 for the first time, you need: an EIN, a list of your applicable excise tax categories, taxable amounts for the quarter, current tax rates, and knowledge of whether you owe semi-monthly deposits.

The Complete First-Time Filing Checklist

1

Obtain Your EIN

Form 720 requires an Employer Identification Number (EIN). You cannot use a Social Security Number, even if you are a sole proprietor. Apply free at IRS.gov — online applications are processed immediately during business hours.

2

Identify Your Excise Tax Categories

Form 720 covers more than 30 excise tax categories. Before you file, identify every category that applies to your business. Common categories include: taxable fuels (gasoline, diesel, aviation), environmental taxes, communications services, air transportation, indoor tanning, and manufacturers' taxes.

3

Gather Your Tax Records

You need the total taxable amount for each category during the quarter. For fuel taxes, this means gallons sold or used. For communications taxes, this means taxable revenue. For indoor tanning, this means gross receipts from tanning services.

4

Verify Current Tax Rates

Excise tax rates change periodically. Before calculating your tax, confirm current rates in IRS Publication 510 (Excise Taxes) or use File720Online, which automatically applies the current rates for each category.

5

Determine Deposit Requirements

If you expect to owe more than $2,500 in excise taxes for the quarter, you are generally required to make semi-monthly deposits via EFTPS. Deposits are due on the 14th and last day of each month for the preceding semi-monthly period.

6

Review Available Credits (Schedule C)

Schedule C allows you to claim credits that reduce your net excise tax liability. Review whether any of your excise taxes qualify for credits — for example, fuel used for nontaxable purposes or fuel that was exported.

7

Know Your Filing Deadline

Form 720 is due quarterly: April 30 (Q1), July 31 (Q2), October 31 (Q3), and January 31 (Q4). If the deadline falls on a weekend or federal holiday, it moves to the next business day. There are no extensions.

8

File Electronically

E-filing is the fastest, most reliable way to file Form 720. The IRS accepts e-filed returns in minutes, and you receive an IRS acceptance confirmation the same day. File720Online guides you through each schedule with clear instructions.

What to Expect When You File

When you e-file Form 720 through File720Online, the process takes about 10–20 minutes for a typical return. You enter your EIN and business information, select the excise tax categories that apply, enter the taxable amounts, and review the calculated tax.

After you submit, the return is transmitted to the IRS through the Modernized e-File (MeF) system. The IRS processes e-filed returns quickly, and you receive an acceptance confirmation within minutes to a few hours during business hours.

Save your IRS acceptance confirmation. It serves as your proof that the return was filed on time. File720Online retains your filing records for 7 years so you can access them at any time.

Related Articles

Excise Tax Categories Explained

All Form 720 schedules covered

Form 720 Due Dates

All quarterly deadlines

Semi-Monthly Deposit Rules

When deposits are required

Frequently Asked Questions

Do I need an EIN to file Form 720?
Yes. Form 720 requires an Employer Identification Number (EIN). You cannot use a Social Security Number. If you do not have an EIN, apply for free at IRS.gov — online applications are processed immediately during business hours.
How do I know which excise taxes apply to my business?
Review IRS Publication 510 (Excise Taxes) for a complete list of excise tax categories. Common categories include fuel taxes (gasoline, diesel, aviation fuel), environmental taxes, communications excise tax, air transportation tax, indoor tanning tax, and manufacturers' taxes on archery equipment and sport fishing tackle.
Do I have to file Form 720 even if I had no excise tax activity?
It depends. If you are registered as an excise taxpayer and had no activity, you may still need to file a zero return. Consult with a tax professional or the IRS if you are unsure whether a zero return is required for your specific excise tax category.
What is the deadline for my first Form 720?
Form 720 is due quarterly: April 30 (Q1: January–March), July 31 (Q2: April–June), October 31 (Q3: July–September), and January 31 (Q4: October–December). Your first filing deadline is the end of the first full quarter after you become liable for excise taxes.
Is e-filing required for Form 720?
E-filing is not legally required for all filers, but it is strongly recommended. E-filed returns are processed faster, you get same-day IRS acceptance confirmation, and the risk of errors is lower. Most tax professionals file Form 720 electronically.

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Disclaimer: The information provided in this article is for general informational purposes only and should not be relied upon as legal, tax, or professional advice. Tax laws and regulations are subject to change, and their application can vary based on individual circumstances. Consult a qualified tax professional or attorney for advice specific to your situation. File720Online is an IRS-authorized e-file provider and does not provide legal or tax advice.