When is Form 720 due?

Form 720 is due quarterly: April 30 (Q1), July 31 (Q2), October 31 (Q3), and January 31 (Q4). If the due date falls on a weekend or holiday, the deadline moves to the next business day.

Can I e-file Form 720?

Yes! File720Online is an IRS-authorized e-file provider for Form 720. E-filing is faster, more accurate, and provides instant confirmation of your filing. You can complete and submit your quarterly excise tax return entirely online.

What excise tax categories does Form 720 cover?

Form 720 covers over 50 excise tax categories organized into IRS Parts I and II, including environmental taxes, communications taxes, air transportation taxes, fuel taxes, manufacturers taxes, ship passenger taxes, foreign insurance taxes, and more.

How do I pay excise taxes with Form 720?

Excise taxes can be paid electronically through EFTPS (Electronic Federal Tax Payment System) or by credit/debit card through IRS-approved payment processors. Semi-monthly deposits may be required for certain taxes exceeding threshold amounts.

What happens if I file Form 720 late?

Late filing penalties include a failure-to-file penalty of 5% of unpaid tax per month (up to 25%), plus a failure-to-pay penalty of 0.5% per month. Interest accrues on unpaid taxes from the due date. E-filing helps ensure timely submission.

Can I amend a previously filed Form 720?

Yes, you can file an amended Form 720 to correct errors on a previously filed return. Check the "Amended Return" box on the form and include the corrected information. File720Online supports amended returns with IRS-compliant workflows.

Form 720 Online Filing Guide - Excise Tax

What Is IRS Form 720?

IRS Form 720, the Quarterly Federal Excise Tax Return, is used to report and pay federal excise taxes on a wide range of goods and services. Businesses that manufacture, sell, import, or use products and services subject to federal excise taxes must file Form 720 every quarter.

Who Needs to File Form 720?

You must file Form 720 if your business is involved in any of the following activities subject to federal excise tax:

Communications taxes — telephone and other communication services
Air transportation taxes — passenger and freight air services
Fuel taxes — gasoline, diesel, kerosene, and alternative fuels
Manufacturers taxes — sport fishing equipment, bows, arrows, firearms
Environmental taxes — ozone-depleting chemicals, petroleum
Indoor tanning services — 10% tax on indoor UV tanning
Patient-centered outcomes research fees — health insurance issuers
Foreign insurance taxes — premiums paid to foreign insurers
Ship passenger taxes — commercial vessel transportation

Form 720 Quarterly Deadlines

Jan - Mar

Due: April 30

Apr - Jun

Due: July 31

Jul - Sep

Due: October 31

Oct - Dec

Due: January 31

If a due date falls on a Saturday, Sunday, or legal holiday, the return is due on the next business day.

How to E-File Form 720 Online

Create your account — Sign up at File720Online and enter your business EIN, name, and address. Your information is saved for future quarters.
Select excise tax categories — Browse the IRS catalog of 50+ tax categories. Enter your quantities, gallons, or dollar amounts for each applicable line.
Review calculations — Our system automatically calculates your tax liability based on current IRS rates. Review the summary before submitting.
Submit and receive confirmation — Your Form 720 is electronically transmitted to the IRS via secure SOAP/XML protocol. Receive instant confirmation.

Semi-Monthly Deposit Requirements

If your net excise tax liability exceeds $2,500 for any quarter, you must make semi-monthly deposits using EFTPS (Electronic Federal Tax Payment System). Deposits are due by the 15th and the last day of each semi-monthly period.

Penalties for Late Filing

Filing Form 720 late can result in significant penalties:

Failure to file: 5% of unpaid tax per month, up to 25%
Failure to pay: 0.5% of unpaid tax per month, up to 25%
Interest: Accrues on unpaid taxes from the original due date

E-filing with File720Online helps ensure timely submission and avoids these penalties.

Why E-File Form 720 with File720Online?

IRS Authorized

Official IRS-authorized e-file provider for Form 720.

Instant Confirmation

Receive immediate acknowledgment from the IRS.

Automatic Calculations

Tax amounts calculated from current IRS rates.

Saved Business Info

File multiple quarters without re-entering data.

Secure Transmission

Bank-level encryption and IRS Pub 5830 compliance.

Filing History

Access past filings and download documents anytime.

E-File IRS Form 720 Online: The Complete Guide