The excise taxes that you have collected from the customers has to be reported and paid to the IRS in Federal Excise Tax Form 720 for the 2nd quarter by July 31. You just have less than 48 hours to report it, choose e-File and get it done in minutes. Simple steps and easy tax preparation when you do it at TaxExcise.com, the 1st IRS Authorized e-file provider and the most experienced, 1000s of users have already reported their taxes online here.
Federal Excise Tax is referred to indirect type of taxation imposed on the manufacture, sale or usage of certain type of goods and products. However, quarterly excise taxes are included in the price of the product, such as cigarettes or alcohol, also included in the price of an activity, often gambling. They are imposed by both the federal and state authorities.
Why choose e-file with TaxExcise.com for Form 720 – Quarterly Federal Excise Tax Returns?
- Faster Processing – e-filed returns are processed much faster than paper filed returns. Instant Approval!
- Accurate Math – When you electronically prepare your tax 720 return, our website will prompt for all required information and do the calculations automatically and accurately.
- Convenience – available online 24 hours a day, 7 days a week. File your Federal Quarterly Excise Tax returns any time.
- Ease of use – user friendly, with step-by-step instructions and clear screens indicators to walk you through the filing process. E-file is a cake-walk
- Greater Accuracy in Processing – zero down math errors because Tax2290.com software catches many mistakes and will not sent an incomplete return to IRS.
- Pay Right – while you e-file you pay the tax that you owe not extra or less.
- Electronic Payment – convenience of direct withdrawal of tax due and EFTPS option to make payments.
- Less Hassle, No Mails – no mailing of paper returns and waiting for mails for weeks, everything is managed electronically and digitally.
- Security – safer than mailing your tax return and sent right to the IRS server no more data loss.
- Avoid paying extra – when you e-file you can make sure your return reaches them well in the time frame no late penalties or late filing charges.
- Easy Record Keeping – Our website would be a online space to have your tax returns stored and retrieved when ever you need them…
July 31 Due Date – 2nd Quarter Return
You are liable to file Form 720, the federal excise taxes every quarter when you offer a service, sell a product or goods that has an excise tax component. The Excise taxes are due for every quarter in a year and the below table clearly indicates the actual due date. If the due date falls on weekend or on a federal holiday, you should file on the next business day.
Take a look at the below tabular column to know when you got to file your excise tax.
|Reporting Months:||Due Date:|
|Jan, Feb, Mar||April 30|
|Apr, May, Jun||July 31|
|Jul, Aug, Sep||Oct. 31|
|Oct, Nov, Dec||Jan. 31|
How it works?
Create an account.
Are you new to TaxExcise?, it is easy to create a new account to e-File excise tax returns. Choose username of your preferred choice, add an email & phone number to receive our tax tips & discounts instantly. Creating an account is absolutely free. If you’re a returning user and already hold an account, just access it from your mobile to e-file.
Enter your tax information.
Complete your 720 Excise Taxes by adding basic business information like Employer Identification Number (EIN), business name and business address. Add the type of excise tax you owe, add the category, and complete filling in the details as prompted in the website.
Choose a payment method
You could choose between the available payment options; EFW (Direct Debit), EFTPS (Electronic Federal Tax Payment System) when you owe extra tax that you need to pay along with the return.
Review and transmit to the IRS.
Before transmitting your tax return review it and make sure your information is correct. Once you are done, submit your return to the IRS for processing by clicking the Transmit button. IRS would process it and an acknowledgement is sent back instantly to your email and you may also find it at your dashboard.