Home
Forms Library
Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T

Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T-2025

Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T Preview on Page 1

See details

4.1 out of 5

44 votes

The document provides detailed instructions for completing Form 720, the Quarterly Federal Excise Tax Return, as revised in September 2024. It outlines the purpose of the form, who must file it, when to file, and how to report various excise taxes including those related to air transportation, communications, and environmental taxes. Key updates include new regulations on corporate stock repurchase taxes and sustainable aviation fuel credits. The document also includes information on penalties, recordkeeping requirements, and resources for taxpayers seeking assistance.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to quickly redact Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Dochub is a perfect editor for modifying your documents online. Adhere to this straightforward guide to edit Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T in PDF format online free of charge:

Sign up and sign in. Create a free account, set a secure password, and go through email verification to start managing your forms.
Add a document. Click on New Document and choose the file importing option: add Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T from your device, the cloud, or a secure URL.
Make adjustments to the template. Utilize the top and left panel tools to redact Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T. Add and customize text, images, and fillable areas, whiteout unneeded details, highlight the important ones, and provide comments on your updates.
Get your paperwork completed. Send the sample to other people via email, generate a link for faster file sharing, export the template to the cloud, or save it on your device in the current version or with Audit Trail included.

Try all the advantages of our editor right now!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who has to file form 720 health insurance?

Issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans will file annually Form 720, Quarterly Federal Excise Tax Return, to report and pay the PCORI fee. The Form 720 will be due on July 31 of the year following the last day of the policy year or plan year.

Do contractors need form 720?

Businesses that manufacture, sell, or provide goods and services subject to excise taxes are required to file Form 720.

How do I file a federal excise tax return?

Filing excise tax returns To report your excise tax liability, you must: Complete Form 720, Quarterly Federal Excise Tax Return. File Form 720 electronically for immediate acknowledgement of receipt and faster service with an IRS-approved software provider.

How do I fill out the pcori form 720?

How to complete Form 720 Step 1: Complete company information header. Step 2: Complete Part II, line 133(c) or (d) Step 3: Complete Part III lines 3 and 10, sign and date. Step 4: Complete the payment voucher. Step 5: Send the completed form, payment voucher, and check to the IRS.

Who needs to file quarterly excise tax?

Businesses that are subject to excise tax generally must file a Form 720, Quarterly Federal Excise Tax Return to report the tax to the IRS. Many excise taxes go into trust funds for projects related to the taxed product or service, such as highway and airport improvements. Excise taxes are independent of income taxes.

What is the September rule for federal excise tax?

The special September rule accelerates a portion of the deposit normally due in October to September. The due date of the special deposit and the amount to deposit is dependent on whether the taxpayer uses electronic funds transfer (EFT) to deposit its Federal excise taxes.

Do I need to file form 720 quarterly federal excise tax return?

Businesses. 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.

Instructions for Form 720 (Rev September 2024) Instructions for Form 720, Quarterly Federal Excise T-2025

Here's how it works