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IRS is currently accepting electronically-filed Forms 720. Forms can be submitted online 24 hours per day.
What is the IRS code 720?
TC 720 means that there has been a refund repayment to your account - the IRS issued you a refund, but it was returned to the IRS.
Who completes form 720?
Any entity, whether a sole proprietorship, partnership, corporation, or a limited liability company, dealing in goods or services subject to federal excise taxes must file Form 720. This includes businesses involved in the sale of luxury goods, certain types of equipment, or specific services.
What is a 720 form used for?
Tax form 720, Quarterly Federal Excise Tax Return, is used to calculate and make excise tax payments on certain categories of income/assets. Excise taxes are taxes paid when purchases are made on a specific good. Most excise tax in some ways resembles a state sales tax. They are paid on purchases of specific goods.
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720 request form
About Form 720, Quarterly Federal Excise Tax Return
Apr 10, 2023 Information about Form 720, Quarterly Federal Excise Tax Return, including recent updates, related forms, and instructions on how to file.
Revenue will mail you a preaddressed Form 720 every 3 months. This form should be used in filing your return. If a preaddressed form is lost, request another.
Apr 27, 2017 Form 720X to request a credit or refund. Collectors using the alternative method for deposits. Collectors using the alternative method for
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