Instructions For Form 720x - Amended Quarterly Federal Excise Tax Return
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12
Form 720X (1-2002)
Page
General Instructions
Line 5
If you want your overpayment:
Section references are to the Internal Revenue Code
● Refunded to you, check the box for line 5a.
unless otherwise noted.
● Applied to your next Form 720, check the box for
Purpose of Form
line 5b and enter the quarter ending date of your next
Form 720. You can file Form 720X separately or you
Use Form 720X to make adjustments to liability
can attach it to your next Form 720.
reported on Forms 720 you have filed for previous
Caution: If you checked the box on line 5b, be sure to
quarters. Do not use Form 720X to make changes to
include the overpayment amount on your next Form
claims made on Schedule C (Form 720), except for the
720. See Form 720 for details.
section 4051(d) tire credit.
Signature
When To File
Form 720X must be signed by a person authorized by
Generally, adjustments that decrease your tax liability
the entity to sign this return. You must sign Form 720X
for a prior quarter must be made within 3 years from
even if it is filed with Form 720 to apply an
the time the return was filed or 2 years from the time
overpayment.
the tax was paid, whichever is later.
Where To File
Privacy Act and Paperwork Reduction Act
Send Form 720X to the Internal Revenue Service
Notice
Center, Cincinnati, OH 45999-0009
We ask for the information on this form to carry out
the Internal Revenue laws of the United States.
Specific Instructions
Section 6011 requires you to provide the requested
Line 1
information. Section 6109 requires you to provide your
taxpayer identification number. Routine uses of tax
Report each adjustment separately on line 1. You must
information include giving it to the Department of
include the following information for each adjustment:
Justice for civil and criminal litigation, and to cities,
● A detailed description of the adjustment and
states, and the District of Columbia for use in
● Computation of the amount.
administering their tax laws. If you fail to provide this
information in a timely manner, you may be subject to
Column (a)
penalties and interest. We may also disclose this
Enter the quarter ending date of the Form 720 you are
information to Federal, state, or local agencies that
amending. If you are amending more than one quarter,
investigate or respond to acts or threats of terrorism or
make sure each quarter is clearly identified. Enter the
participate in intelligence or counterintelligence
date in the MMDDYYYY format. For example, if you
activities concerning terrorism.
are adjusting the first quarter return for 2001, enter
You are not required to provide the information
“03312001.”
requested on a form that is subject to the Paperwork
Reduction Act unless the form displays a valid OMB
Column (d)
control number. Books or records relating to a form or
Enter the tax amount for the IRS No. entered in
its instructions must be retained as long as their
column (b) as originally reported on Form 720 or as
contents may become material in the administration of
later adjusted by you or the IRS.
any Internal Revenue law. Generally, tax returns and
return information are confidential, as required by
Column (e)
section 6103.
Enter the adjusted tax liability that should have been
The time needed to complete and file Form 720X will
reported for the IRS No. in column (b).
vary depending on individual circumstances. The
estimated average time is:
You can use line 6 on page 1 for your explanation or
you can attach additional sheets as needed.
Recordkeeping
6 hr., 13 min.
Learning about the law or the form
18 min.
Column (f)
Preparing, copying, and sending
If column (e) is greater than column (d), subtract
the form to the IRS
24 min.
column (d) from column (e). This is an increase. If
If you have comments concerning the accuracy of
column (d) is greater than column (e), subtract column
these time estimates or suggestions for making this
(e) from column (d). This is a decrease. Show the
form simpler, we would be happy to hear from you.
decrease in parentheses.
You can write to the Tax Forms Committee, Western
Area Distribution Center, Rancho Cordova, CA
Line 2
95743-0001. Do not send the tax form to this address.
You must use line 2 to report any adjustments to the
Instead, see Where To File above.
section 4051(d) tire credit for a prior quarter. For
example, if you report an additional taxable vehicle on
line 1 for IRS No. 33, the applicable tire credit is
reported on line 2. See the Instructions for Form 720
for more information on the tire credit.
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