Instructions For Form 720 - 2017 (Page 2 of 20) in pdf

determine if you meet reasonable-cause criteria. Do not

Quarter covered

Due by

include an explanation when you file your return.

Jan., Feb., Mar.

April 30

Trust fund recovery penalty. If communications, air

Apr., May, June

July 31

transportation, and indoor tanning services taxes are

collected but not paid to the United States Treasury or are

July, Aug., Sept.

October 31

willfully not collected, the trust fund recovery penalty may

Oct., Nov., Dec.

January 31

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

The trust fund recovery penalty may be imposed on all

persons who are determined by the IRS to be responsible for

If any due date for filing a return falls on a Saturday,

Sunday, or legal holiday, you may file the return on the next

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

business day.

who acted willfully in not doing so.

A responsible person can be an officer or employee of a

Send your return to the IRS using the U.S. Postal Service

corporation, a partner or employee of a partnership, an

or a designated private delivery service to meet the “timely

employee of a sole proprietorship, an accountant, or a

mailing as timely filing/paying” rule. See Private Delivery

volunteer director/trustee. A responsible person may also

Services, later.

include one who signs checks for the business or otherwise

Floor stocks tax. Report the floor stocks tax on

has authority to cause the spending of business funds.

ozone-depleting chemicals (ODCs), IRS No. 20, on the

Willfully means voluntarily, consciously, and intentionally.

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

A responsible person acts willfully if he or she knows the

by June 30. See Floor Stocks Tax, later.

required actions are not taking place.

Where To File

Additional Information

Send Form 720 to:

You may find the following products helpful when preparing

Form 720 and any attachments.

Department of the Treasury

Pub. 510, Excise Taxes, contains definitions and

Internal Revenue Service

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

Cincinnati, OH 45999-0009

contains information on fuel tax credits and refunds.

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

How To File

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

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

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

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.

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

Final Return

Notice 2007-97 (alternative fuel and alternative fuel

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

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

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.

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

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

owe excise tax in future quarters, check the final

I.R.B. 576, at

TIP

return box above Part I of Form 720.

Notice 2012-27 (fractional aircraft ownership programs

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

Recordkeeping

2012-17_IRB/ar09.html.

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

2014-29_IRB/

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

ar10.html.

records to support all claims and all exemptions at least 4

Notice 2015-60 (patient-centered outcomes research fee

years from the latest of the date:

for years ending on or after October 1, 2015), 2015-43 I.R.B.

The tax became due,

674, at 2015-43_IRB/ar07.html.

You paid the tax, or

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

You filed a claim.

at 2013-28_IRB/ar06.html.

Penalties and Interest

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

irb/2016-45_IRB/ar12.html.

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

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

Instructions for Form 720 (Rev. 12017)

Instructions For Form 720 - 2017 Page 2

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