Form 720 2017-2025

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The document provides information about the IRS Form 720 (Rev. April 2017), which is used for filing the Quarterly Federal Excise Tax Return. It includes details on various excise taxes, their rates, and instructions for completing the form. Notably, it corrects a previous error regarding the tax rate for IRS No. 33, stating it should be 12% of the sales price instead of 12% of the sales tax.

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Begin by entering your name, address, and employer identification number (EIN) at the top of the form. Ensure all details are accurate to avoid processing delays.
In Part I, identify the applicable excise taxes by referring to the IRS numbers listed. Fill in the quantities and calculate the total tax due for each category.
Proceed to Part II for any applicable Patient-Centered Outcomes Research Fees. Enter the average number of lives covered and calculate fees based on provided rates.
In Part III, sum up your total tax from Parts I and II. If you have claims or deposits, complete those sections accordingly.
Finally, review your entries for accuracy. You can print, download, or share your completed form directly from our platform.

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Versions	Form popularity	Fillable & printable
2024	4.2 Satisfied (28 Votes)
2023	4.6 Satisfied (31 Votes)
2023	4.4 Satisfied (58 Votes)
2022	4.1 Satisfied (22 Votes)
2022	4.8 Satisfied (140 Votes)
2021	4.4 Satisfied (97 Votes)
2021	4.3 Satisfied (170 Votes)
2020	4.4 Satisfied (333 Votes)
2020	4.2 Satisfied (117 Votes)
2019	4.3 Satisfied (79 Votes)
2018	4.3 Satisfied (189 Votes)
2017	4.3 Satisfied (128 Votes)
2016	4.4 Satisfied (547 Votes)
2016	4.3 Satisfied (57 Votes)
2015	4 Satisfied (60 Votes)

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What is 720 used for?

Reporting and Paying for Excise Taxes Schedule A of Form 720 is used to show the total amount of excise taxes you must pay for the quarter. You can send your completed Form 720 by mail or online through an IRS-approved software provider.

Can Form 720 be signed electronically?

The IRS strongly encourages taxpayers to opt for electronic filing when submitting Form 720, the Quarterly Federal Excise Tax Return. One reason electronic signatures are not permitted for manual filings is that the IRS promotes the use of the electronic filing method.

What is the form 720?

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.

Is there a simplified form 720?

Simple720 is an IRS-Approved 720 online portal designed to make your federal excise tax filings effortless and stress-free.