Today the final call for 3rd Quarter Federal Excise Tax reporting

Today October 31, the last day of the month following the end of 3rd quarter of 2019. Federal Excise Tax returns reporting using IRS Tax Form 720 for the businesses that collected excise tax from the users or buyer of service or goods that has a excise tax added to it.

The IRS recommends a taxpayer to eFile, e-filing is that the tax filer receives a confirmation or rejection notice immediately once the return is processed by the IRS. The confirmation is proof that the documents have been received and is in the process, while the rejection is notice to the taxpayer that his or her return has not been accepted by the IRS. The rejection will be detailing the reason and allows to retransmit the return after correcting the errors.

Form 720 Due for 3rd Quarter Filing

If you run a business that’s required to collect excise taxes, it’s your responsibility to collect the tax from the customer and pay it to the government every quarter. To do that, business owners must file Form 720, Quarterly Federal Excise Tax Return which lists the various types of excise taxes. In the form, business owners must list the types of taxes that they’ve collected and reported it to the government.

Convenient and Simple website to file federal excise tax returns is now ready to serve with the best in class electronic filing for Form 720, talk to us at 866 245 3918 or write to us at support@taxexcise.com.