Instructions For Form 720 - Quarterly Federal Excise Tax Return (Page 2 of 20) in pdf

return due by July 31 of each year. The tax payment is due

Willfully means voluntarily, consciously, and intentionally.

by June 30. See Floor Stocks Tax, later.

A responsible person acts willfully if he or she knows the

required actions are not taking place.

Where To File

Additional Information

Send Form 720 to:

You may find the following products helpful when preparing

Department of the Treasury

Form 720 and any attachments.

Internal Revenue Service

Pub. 510, Excise Taxes, contains definitions and

Cincinnati, OH 45999-0009

examples that will help you prepare Form 720. Pub. 510 also

contains information on fuel tax credits and refunds.

How To File

Pub. 509, Tax Calendars, has deposit and payment due

dates for federal excise taxes listed in this publication.

If you are not reporting a tax that you normally report, enter a

Notice 2005-4 (fuel tax guidance), see 2005-2 I.R.B. 289,

zero on the appropriate line on Form 720, Part I or II. Also, if

at IRS.gov/IRB/2005-02_IRB/ar14.

you have no tax to report, write “None” on Form 720, Part III,

Notice 2005-24 (sales of gasoline on oil company credit

line 3; sign and date the return. If you file the second quarter

cards), 2005-12 I.R.B. 757, at

Form 720 only to report the patient-centered outcomes

IRS.gov/IRB/2005-12_IRB/ar13.

research fee, no filing is required in other quarters unless you

Notice 2005-62 (biodiesel and aviation-grade kerosene),

have to report other fees or taxes.

2005-35 I.R.B. 443, at

IRS.gov/IRB/2005-35_IRB/ar06.

If you have adjustments to liabilities reported for prior

Notice 2005-80 (LUST, kerosene, claims by credit card

quarters, see Form 720X, Amended Quarterly Federal Excise

issuers, and mechanical dye injection), 2005-46 I.R.B. 953,

Tax Return. Do not enter adjustments on Form 720.

at IRS.gov/IRB/2005-46_IRB/ar14.

If you attach additional sheets, write your name and EIN

Notice 2006-92 (alternative fuels and alternative fuel

on each sheet.

mixtures), on page 774 of 2006-43 I.R.B. 774, at

IRS.gov/IRB/2006-43_IRB/ar12.

Final Return

Notice 2007-97 (alternative fuel and alternative fuel

mixtures defined), 2007-49 I.R.B. 1092, at

File a final return if you have been filing Form 720 and you:

IRS.gov/IRB/2007-49_IRB/ar12.

1. Go out of business, or

Notice 2008-110 (biodiesel and cellulosic biofuel),

2. Will not owe excise taxes that are reportable on Form

2008-51 I.R.B. 1298, at

720 in future quarters.

IRS.gov/IRB/2008-51_IRB/ar09.

Notice 2010-68 (Alaska dyed diesel exemption), 2010-44

If you are only filing to report zero tax and you will not

I.R.B. 576, at IRS.gov/IRB/2010-44_IRB/ar05.

owe excise tax in future quarters, check the final

TIP

Notice 2012-27 (fractional aircraft ownership programs

return box above Part I of Form 720.

fuel surtax), 2012-17 I.R.B. 849, at

IRS.gov/IRB/

Recordkeeping

2012-17_IRB/ar09.

Treasury Decision (T.D.) 9670 (tanning tax disregarded

Keep copies of your tax return, records, and accounts of all

entity), 2014-29 I.R.B. 121, at

IRS.gov/IRB/2014-29_IRB/

transactions to show that the correct tax has been paid. Keep

ar10.

records to support all claims and all exemptions at least 4

Notice 2016-64 (patient-centered outcomes research fee

years from the latest of the date:

for years ending on or after October 1, 2016), 2016-64 I.R.B.

The tax became due,

674, at IRS.gov/IRB/2016-46_IRB/ar08.

You paid the tax, or

T.D. 9621 (indoor tanning services tax), 2013-28 I.R.B. 49,

You filed a claim.

at IRS.gov/IRB/2013-28_IRB/ar06.

Penalties and Interest

Rev. Proc. 2016-55 (inflation adjustments), at

IRS.gov/

IRB/2016-45_IRB/ar12.

If you receive a notice about a penalty after you file this

Rev. Rul. 2016-03 (foreign reinsurance), 2016-3 I.R.B.

return, reply to the notice with an explanation and we will

282, at IRS.gov/IRB/2016-03_IRB/ar09.

determine if you meet reasonable-cause criteria. Do not

You also may call the Business and Specialty Tax line at

include an explanation when you file your return.

1-800-829-4933 with your excise tax questions. The hours of

Trust fund recovery penalty. If communications, air

operation are Monday–Friday, 7:00 a.m. to 7:00 p.m. local

transportation, and indoor tanning services taxes are

time.

collected but not paid to the United States Treasury or are

Private Delivery Services

willfully not collected, the trust fund recovery penalty may

apply. The penalty is the full amount of the unpaid tax.

You can use the following private delivery services

The trust fund recovery penalty may be imposed on all

designated by the IRS to meet the “timely mailing as timely

persons who are determined by the IRS to be responsible for

filing/paying” rule for tax returns and payments.

collecting, accounting for, and paying over these taxes, and

DHL Express 9:00, DHL Express 10:30, DHL Express

who acted willfully in not doing so.

12:00, DHL Express Worldwide, DHL Express Envelope,

DHL Import Express 10:30, DHL Import Express 12:00, and

A responsible person can be an officer or employee of a

DHL Import Express Worldwide.

corporation, a partner or employee of a partnership, an

Federal Express (FedEx): FedEx First Overnight, FedEx

employee of a sole proprietorship, an accountant, or a

Priority Overnight, FedEx Standard Overnight, FedEx 2 Day,

volunteer director/trustee. A responsible person also may

FedEx International Next Flight Out, FedEx International

include one who signs checks for the business or otherwise

has authority to cause the spending of business funds.

-2-

Instructions for Form 720 (Rev. 4-2017)

Instructions For Form 720 - Quarterly Federal Excise Tax Return Page 2

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