The Federal Excise Taxes reported on Form 720 for the 2nd Quarter (April, May and June) of 2016 is due this July 31. You can choose to e-file it with the IRS Authorized website http://TaxExcise.com Today!
Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks. One of the major components of the excise program is motor fuel.
The excise Taxes that can be reported on IRS Tax Form 720 are;
Major Excise Taxes under Part I:
Part II – Excise Taxes:
Schedule A Excise Tax Liabilty
Schedule T and