Quarterly Federal Excise Tax Return Irs Tax Forms

Summary

Form 720
(Rev. September 2022)
Quarterly Federal Excise Tax Return
See the Instructions for Form 720. OMB No. 1545-0023
Department of the Treasury
Internal Revenue Service Go to www.irs.gov/Form720 for instructions and the latest information

Name Quarter ending FOR IRS USE ONLY
Check here if:
Final return T
Number, street, and room or suite no. Employer identification number
Address change (If you have a P.O. box, see the instructions.) FF
FD
FP
City or town, state or province, country, and ZIP or foreign postal code
I
T
Part I
IRS No. Environmental Taxes (attach Form 6627, ODCs are ozone-depleting chemicals) Tax IRS No

18 Domestic petroleum oil spill tax 18
21 Imported petroleum products oil spill tax 21
54 Chemicals (other than ODCs) 54
17 Imported chemical substances 17
98 ODCs 98
19 ODC tax on imported products 19
Communications and Air Transportation Taxes (see instructions) Tax
22 Local telephone service and teletypewriter exchange service 22
26 Transportation of persons by air 26
28 Transportation of property by air 28
27 Use of international air travel facilities 27
Fuel Taxes Number of gallons Rate Tax
}
(a) Diesel, tax on removal at terminal rack $.244
60 (b) Diesel, tax on taxable events other than removal at terminal rack .244 60
(c) Diesel, tax on sale or removal of biodiesel mixture
(not at terminal rack) .244
104 Diesel-water fuel emulsion .198 104
105 Dyed diesel, LUST tax .001 105
107 Dyed kerosene, LUST tax .001 107
119 LUST tax, other exempt removals (see instructions) .001 119
35 (a) Kerosene, tax on removal at terminal rack (see instructions)
(b) Kerosene, tax on taxable events other than removal at terminal rack
.244
.244 } 35
69 Kerosene for use in aviation (see instructions) .219 69
77 Kerosene for use in commercial aviation (other than foreign trade) .044 77
111 Kerosene for use in aviation, LUST tax on nontaxable uses .001 111
79 Other fuels (see instructions) 79
62 (a) Gasoline, tax on removal at terminal rack
(b) Gasoline, tax on taxable events other than removal at terminal rack
.184
.184 } 62
13 Any liquid fuel used in a fractional ownership program aircraft .141 13
14 Aviation gasoline .194 14
112 Liquefied petroleum gas (LPG) (see instructions) .183 112
118 “P Series” fuels .184 118
120 Compressed natural gas (CNG) (see instructions) .183 120
121 Liquefied hydrogen .184 121
122 Fischer-Tropsch process liquid fuel from coal (including peat) .244 122
123 Liquid fuel derived from biomass .244 123
124 Liquefied natural gas (LNG) (see instructions) .243 124
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 10175Y Form 720 (Rev. 9-2022)
September 16, 2022
Form 720 (Rev. 9-2022) Page 2
IRS No. Rate Tax IRS No

33 Retail Tax—Truck, trailer, and semitrailer chassis and bodies, and tractor 12% of sales price 33
Ship Passenger Tax Number of persons Rate Tax
29 Transportation by water $3 per person 29
Other Excise Tax Amount of obligations Rate Tax
31 Obligations not in registered form $.01 31
Foreign Insurance Taxes—Policies issued by foreign insurers Premiums paid Rate Tax IRS No

}
Casualty insurance and indemnity bonds $.04
30 Life insurance, sickness and accident policies, and annuity
contracts .01 30
Reinsurance .01
Manufacturers Taxes Number of tons Sales price
36 $.50 per ton 36
Coal—Underground mined
37 2% of sales price 37
38 $.25 per ton 38
Coal—Surface mined
39 2% of sales price 39
Number of tires Tax IRS No

108 Taxable tires other than bias ply or super single tires 108
109 Taxable bias ply or super single tires (other than super single tires designed for steering) 109
113 Taxable tires, super single tires designed for steering 113
40 Gas guzzler tax. Attach Form 6197. Check if one-time filing . . . . . . . . . . . . 40
97 Vaccines (see instructions) 97
Sales price
Reserved for future use 2.3% of sales price
1 Total. Add all amounts in Part I. Complete Schedule A unless one-time filing $
Part II
Patient-Centered Outcomes Research Fee (see (a) Avg. number (b) Rate for
of lives covered avg. (c) Fee (see
IRS No. instructions) (see inst.) covered life instructions) Tax IRS No

}
Specified health insurance policies
(a) With a policy year ending before October 1, 2021 $2.66
(b) With a policy year ending on or after October 1, 2021,
and before October 1, 2022 $2.79
133 Applicable self-insured health plans 133
(c) With a plan year ending before October 1, 2021 $2.66
(d) With a plan year ending on or after October 1, 2021,
and before October 1, 2022 $2.79
Rate Tax
41 Sport fishing equipment (other than fishing rods and fishing poles) 10% of sales price 41
110 Fishing rods and fishing poles (limits apply, see instructions) 10% of sales price 110
42 Electric outboard motors 3% of sales price 42
114 Fishing tackle boxes 3% of sales price 114
44 Bows, quivers, broadheads, and points 11% of sales price 44
106 Arrow shafts $.55 per shaft 106
140 Indoor tanning services 10% of amount paid 140
Number of gallons Rate Tax
64 Inland waterways fuel use tax $.29 64
125 LUST tax on inland waterways fuel use (see instructions) .001 125
51 Section 40 fuels (see instructions) 51
117 Biodiesel sold as but not used as fuel 117
20 Floor Stocks Tax—Ozone-depleting chemicals (floor stocks). Attach Form 6627. 20
2 Total. Add all amounts in Part II $
Form 720 (Rev. 9-2022)
Form 720 (Rev. 9-2022) Page 3
Part III
3 Total tax. Add Part I, line 1, and Part II, line 2 . . . . . . . . . . . . . . . . . . 3
4 Claims (see instructions; complete Schedule C) . . . . . . . . 4
5 Deposits made for the quarter . . . . . 5
Check here if you used the safe harbor rule to make your deposits

6 Overpayment from previous quarters . . . 6
7 Enter the amount from Form 720-X included
on line 6, if any . . . . . . . . . . 7
8 Add lines 5 and 6 . . . . . . . . . . . . . . . . . . 8
9 Add lines 4 and 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Balance Due. If line 3 is greater than line 9, enter the difference. Pay the full amount with the return (see instructions) 10
11 Overpayment. If line 9 is greater than line 3, enter the difference. Check if you want the
overpayment: Applied to your next return, or Refunded to you. 11
Third Party Do you want to allow another person to discuss this return with the IRS (see instructions)? Yes. Complete the following. No
Designee Designee name Phone no. Personal identification number (PIN)
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and
belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge

Sign
Here Signature Date Title
Type or print name below signature. Telephone number
Print/Type preparer’s name Preparer’s signature Date PTIN
Paid Check if
self-employed
Preparer
Firm’s name Firm’s EIN
Use Only Firm’s address Phone no

Form 720 (Rev. 9-2022)
Form 720 (Rev. 9-2022) Page 4
Schedule A Excise Tax Liability (see instructions)
Note: You must complete Schedule A if you have a liability for any tax in Part I of Form 720. Don’t complete Schedule A for
Part II taxes or for a one-time filing of the gas guzzler tax

1 Regular method taxes
(a) Record of Net Period
Tax Liability 1st–15th day 16th–last day
First month A B
Second month C D
Third month E F
Special rule for September* . . . . . . . . . . G
(b) Net liability for regular method taxes. Add the amounts for each semimonthly period

2 Alternative method taxes (IRS Nos. 22, 26, 28, and 27)
(a) Record of Taxes Period
Considered as
1st–15th day 16th–last day
Collected
First month M N
Second month O P
Third month Q R
Special rule for September* . . . . . . . . . . S
(b) Alternative method taxes. Add the amounts for each semimonthly period

* Complete only as instructed (see instructions)

Schedule T Two-Party Exchange Information Reporting (see instructions)
Fuel Number of gallons
Diesel fuel, gallons received in a two-party exchange within a terminal, included
on Form 720, IRS No. 60(a)
Diesel fuel, gallons delivered in a two-party exchange within a terminal
Kerosene, gallons received in a two-party exchange within a terminal, included
on Form 720, IRS No. 35(a), 69, 77, or 111
Kerosene, gallons delivered in a two-party exchange within a terminal
Gasoline, gallons received in a two-party exchange within a terminal, included
on Form 720, IRS No. 62(a)
Gasoline, gallons delivered in a two-party exchange within a terminal
Aviation gasoline, gallons received in a two-party exchange within a terminal, included
on Form 720, IRS No. 14
Aviation gasoline, gallons delivered in a two-party exchange within a terminal
Form 720 (Rev. 9-2022)
Form 720 (Rev. 9-2022) Page 5
Schedule C Claims Month your income tax year ends
• Complete Schedule C for claims only if you are reporting liability in Part I or II of Form 720

• Attach a statement explaining each claim as required. Include your name and EIN on the statement (see instructions)

Caution: Claimant has the name and address of the person(s) who sold the fuel to the claimant, the dates of purchase, and if
exported, the required proof of export. For claims on lines 1a and 2b (type of use 13 and 14), 3c, 4b, and 5, claimant hasn’t waived
the right to make the claim

1 Nontaxable Use of Gasoline Note: CRN is credit reference number. Period of claim
Type of use Rate Gallons Amount of claim CRN
a Gasoline (see Caution above line 1) $.183 $ 362
b Exported (see Caution above line 1) .184 411
2 Nontaxable Use of Aviation Gasoline Period of claim
Type of use Rate Gallons Amount of claim CRN
a Used in commercial aviation (other than foreign trade) $.15 $ 354
b Other nontaxable use (see Caution above line 1) .193 324
c Exported (see Caution above line 1) .194 412
d LUST tax on aviation fuels used in foreign trade .001 433
3 Nontaxable Use of Undyed Diesel Fuel Period of claim
Claimant certifies that the diesel fuel did not contain visible evidence of dye

Exception. If any of the diesel fuel included in this claim did contain visible evidence of dye, attach a detailed
explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Type of use Rate Gallons Amount of claim CRN
a Nontaxable use $.243 $ 360
b Use in trains .243 353
c Use in certain intercity and local buses (see Caution above line 1) .17 350
d Use on a farm for farming purposes .243 360
e Exported (see Caution above line 1) .244 413
4 Nontaxable Use of Undyed Kerosene (Other Than Kerosene Used in Aviation) Period of claim
Claimant certifies that the kerosene did not contain visible evidence of dye

Exception. If any of the kerosene included in this claim did contain visible evidence of dye, attach a detailed
explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Caution: Claims cannot be made on line 4 for kerosene sales from a blocked pump. Type of use Rate Gallons Amount of claim CRN
a Nontaxable use $.243 $ 346
b Use in certain intercity and local buses (see Caution above line 1) .17 347
c Use on a farm for farming purposes .243 346
d Exported (see Caution above line 1) .244 414
e Nontaxable use taxed at $.044 .043 377
f Nontaxable use taxed at $.219 .218 369
5 Kerosene Used in Aviation (see Caution above line 1) Period of claim
Type of use Rate Gallons Amount of claim CRN
a Kerosene used in commercial aviation (other than foreign
trade) taxed at $.244 $.200 $ 417
b Kerosene used in commercial aviation (other than foreign
trade) taxed at $.219 .175 355
c Nontaxable use (other than use by state or local
government) taxed at $.244 .243 346
d Nontaxable use (other than use by state or local
government) taxed at $.219 .218 369
e LUST tax on aviation fuels used in foreign trade .001 433
Form 720 (Rev. 9-2022)
Form 720 (Rev. 9-2022) Page 6
6 Nontaxable Use of Alternative Fuel
Caution: There is a reduced credit rate for use in certain intercity and local buses (type of use 5) (see instructions)

Gallons, or gasoline
Type of use Rate or diesel gallon Amount of claim CRN
equivalents
a Liquefied petroleum gas (LPG) (see instructions) $.183 $ 419
b “P Series” fuels .183 420
c Compressed natural gas (CNG) (see instructions) .183 421
d Liquefied hydrogen .183 422
e Fischer-Tropsch process liquid fuel from coal (including peat) .243 423
f Liquid fuel derived from biomass .243 424
g Liquefied natural gas (LNG) (see instructions) .243 425
h Liquefied gas derived from biomass .183 435
7 Sales by Registered Ultimate Vendors of Undyed Diesel Fuel Period of claim
Registration number
Claimant certifies that it sold the diesel fuel at a tax-excluded price, repaid the amount of tax to the buyer, or has obtained
written consent of the buyer to make the claim. Claimant certifies that the diesel fuel didn’t contain visible evidence of dye

Exception. If any of the diesel fuel included in this claim did contain visible evidence of dye, attach a detailed
explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rate Gallons Amount of claim CRN
a Use by a state or local government $.243 $ 360
b Use in certain intercity and local buses .17 350
8 Sales by Registered Ultimate Vendors of Undyed Kerosene Period of claim
(Other Than Kerosene For Use in Aviation) Registration number
Claimant certifies that it sold the kerosene at a tax-excluded price, repaid the amount of tax to the buyer, or has obtained the
written consent of the buyer to make the claim. Claimant certifies that the kerosene didn’t contain visible evidence of dye

Exception. If any of the kerosene included in this claim did contain visible evidence of dye, attach a detailed
explanation and check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rate Gallons Amount of claim CRN
a Use by a state or local government $.243 $
346
b Sales from a blocked pump .243
c Use in certain intercity and local buses .17 347
9 Sales by Registered Ultimate Vendors of Kerosene For Use in Aviation Registration number
• See Caution above line 1

• Claimant sold the kerosene for use in aviation at a tax-excluded price and hasn’t collected the amount of tax from the buyer,
repaid the amount of tax to the buyer, or has obtained written consent of the buyer to make the claim. See the instructions for
additional information to be submitted

Type of use Rate Gallons Amount of claim CRN
a Use in commercial aviation (other than foreign trade) taxed at $.219 $.175 $ 355
b Use in commercial aviation (other than foreign trade) taxed at $.244 .200 417
c Nonexempt use in noncommercial aviation .025 418
d Other nontaxable uses taxed at $.244 .243 346
e Other nontaxable uses taxed at $.219 .218 369
f LUST tax on aviation fuels used in foreign trade .001 433
10 Sales by Registered Ultimate Vendors of Gasoline Registration number
Claimant sold the gasoline at a tax-excluded price and hasn’t collected the amount of tax from the buyer, repaid the amount of
tax to the buyer, or has obtained written consent of the buyer to take the claim; and obtained an unexpired certificate from the
buyer and has no reason to believe any information in the certificate is false. See the instructions for additional information to
be submitted

Rate Gallons Amount of claim CRN
a Use by a nonprofit educational organization $.183 $
362
b Use by a state or local government .183
Form 720 (Rev. 9-2022)
Form 720 (Rev. 9-2022) Page 7
11 Sales by Registered Ultimate Vendors of Aviation Gasoline Registration number
Claimant sold the aviation gasoline at a tax-excluded price and hasn’t collected the amount of tax from the buyer, repaid the amount
of tax to the buyer, or has obtained written consent of the buyer to take the claim; and obtained an unexpired certificate from the buyer
and has no reason to believe any information in the certificate is false. See the instructions for additional information to be submitted

Rate Gallons Amount of claim CRN
a Use by a nonprofit educational organization $.193 $
324
b Use by a state or local government .193
12 Biodiesel or Renewable Diesel Mixture Credit Period of claim Registration number
Biodiesel mixtures. Claimant produced a mixture by mixing biodiesel with diesel fuel. The biodiesel used to produce the
mixture met ASTM D6751 and met EPA’s registration requirements for fuels and fuel additives. The mixture was sold by the
claimant to any person for use as a fuel or was used as a fuel by the claimant. Claimant has attached the Certificate for
Biodiesel and, if applicable, the Statement of Biodiesel Reseller. Renewable diesel mixtures. Claimant produced a mixture by
mixing renewable diesel with liquid fuel (other than renewable diesel). The renewable diesel used to produce the renewable
diesel mixture was derived from biomass, met EPA’s registration requirements for fuels and fuel additives, and met ASTM
D975, D396, or other equivalent standard approved by the IRS. The mixture was sold by the claimant to any person for use as
a fuel or was used as a fuel by the claimant. Claimant has attached the Certificate for Biodiesel and, if applicable, Statement of
Biodiesel Reseller, both of which have been edited as discussed in the instructions for line 12. See the instructions for line 12
for information about renewable diesel used in aviation

Gal. of biodiesel or
Rate Amount of claim CRN
renewable diesel
a Biodiesel (other than agri-biodiesel) mixtures $1.00 $ 388
b Agri-biodiesel mixtures 1.00 390
c Renewable diesel mixtures 1.00 307
13 Alternative Fuel Credit and Alternative Fuel Mixture Credit Registration number
For the alternative fuel mixture credit, claimant produced a mixture by mixing taxable fuel with alternative fuel. Claimant
certifies that it (a) produced the alternative fuel, or (b) has in its possession the name, address, and EIN of the person(s) that
sold the alternative fuel to the claimant; the date of purchase; and an invoice or other documentation identifying the amount of
the alternative fuel. The claimant also certifies that it made no other claim for the amount of the alternative fuel, or has repaid
the amount to the government. The alternative fuel mixture was sold by the claimant to any person for use as a fuel or was
used as a fuel by the claimant

Gallons, or
gasoline or diesel
Rate Amount of claim CRN
gallon equivalents
(see instructions)
a Liquefied petroleum gas (LPG)* (see instructions) $.50 $ 426
b “P Series” fuels .50 427
c Compressed natural gas (CNG)* (see instructions) .50 428
d Liquefied hydrogen .50 429
e Fischer-Tropsch process liquid fuel from coal (including peat) .50 430
f Liquid fuel derived from biomass .50 431
g Liquefied natural gas (LNG)* (see instructions) .50 432
h Liquefied gas derived from biomass* .50 436
i Compressed gas derived from biomass* .50 437
* You can’t claim the alternative fuel mixture credit for this fuel

14 Other claims. See the instructions. For lines 14b and 14c, see the Caution above line 1 on page 5. Amount of claim CRN
a Section 4051(d) tire credit (tax on vehicle reported on IRS No. 33) $ 366
b Exported dyed diesel fuel and exported gasoline blendstocks taxed at $.001 415
c Exported dyed kerosene 416
d Diesel-water fuel emulsion
e Registered credit card issuers
Number of tires Amount of claim CRN
f Taxable tires other than bias ply or super single tires $ 396
g Taxable tires, bias ply or super single tires (other than super single tires designed for steering) 304
h Taxable tires, super single tires designed for steering 305
i Chemicals (other than ODCs) 454
j Imported chemical substances 317
k
15 Total claims. Add amounts on lines 1 through 14. Enter the result here and on Form 720, Part III, line 4. 15
Form 720 (Rev. 9-2022)
Form 720-V,
Payment Voucher
Purpose of Form Box 2. Enter the amount paid from line 10 of Form 720

Complete Form 720-V if you’re making a payment by Box 3. Darken the circle identifying the quarter for which
check or money order with Form 720, Quarterly the payment is made. Darken only one circle

Federal Excise Tax Return. We will use the completed Box 4. Enter your name and address as shown on
voucher to credit your payment more promptly and Form 720

accurately, and to improve our service to you

• Enclose your check or money order made payable to
If you have your return prepared by a third party and a “United States Treasury.” Be sure to enter your
payment is required, provide this payment voucher to EIN (SSN for one-time filing), “Form 720,” and the tax
the return preparer. period on your check or money order. Don’t send cash

Don’t file Form 720-V if you’re paying the balance Don’t staple this voucher or your payment to the return
due on line 10 of Form 720 using EFTPS. (or to each other)

• Detach the completed voucher and send it with your
Specific Instructions payment and Form 720. See Where To File in the
Box 1. If you don’t have an EIN, you may apply for Instructions for Form 720

one online by visiting www.irs.gov/EIN. You may also
apply for an EIN by faxing or mailing Form SS-4,
Application for Employer Identification Number, to the
IRS. However, if you’re making a one-time filing, enter
your social security number

Form 720-V (2022)
Detach here and mail with your payment and Form 720

720-V Payment Voucher OMB No. 1545-0023
Form
Department of the Treasury
Internal Revenue Service
Don’t staple or attach this voucher to your payment. 2022
1 Enter your employer identification 2 Dollars Cents
number (EIN). See instructions

Enter the amount of your payment

Make your check or money order payable to “United States Treasury.”
3 Tax Period 4 Enter your business name (individual name if sole proprietor)

1st 3rd
Quarter Quarter Enter your address

2nd 4th City or town, state or province, country, and ZIP or foreign postal code
Quarter Quarter

Quarterly Federal Excise Tax Return. Form 720 (Rev. 6-2021) Page . 2 : IRS No. on Form 720, IRS No. 35(a), 69, 77, or 111 : Kerosene, gallons delivered in a two-party exchange …

Download Now

Documemt Updated

Popular Download

• › Quick Guide Xp 400
• › Quick Reference Guide To Forms Nashville State
• › Quality Assurance And Surveillance Plan Qasp
• › Quarterly Financial Report
• › Quality Assurance Plan For Conducting Radon
• › Quantity Takeoff Worksheet For Construction
• › Quality Assurance Document Us Epa
• › Quality Assurance For Structural Engineering
• › Quick Guide To Organizing Assessment Data For Analysis
• › Quality Assurance Program Plan For The West Virginia
• › Quality Assurance Plan Basic Lab
• › Quality Management Plan Template Portalctgov
• › Quick Flex Couplings Interchange Guide Lovejoy Inc
• › Quality Assurance Improvement Encompass Health Home
• › Questions Need Assistance Call Before You Install 800
• › Quick Pallet Maker Load Optimization Koona
• › Quality Management Plan Acqnotes
• › Quality Assurance Project Plan Qapp
• › Quick Fast And Fuss Free Printing Thcanon
• › Quality Assessment And Assurance Review Cms

Frequently Asked Questions

Can i file tax quarterly?

Use the worksheet found in Form 1040-ES, Estimated Tax for Individuals to find out if you are required to file quarterly estimated tax. Form 1040-ES also contains blank vouchers you can use when you mail your estimated tax payments or you may make your payments using the Electronic Federal Tax Payment System (EFTPS) .

Do i owe quarterly taxes?

You’re required to pay quarterly taxes if you expect to owe more than $1,000 in taxes for a given year, and if those taxes aren’t being withheld for you already. A good rule of thumb to use is—if your business is making a profit of around $3,000 or more, you’ll likely owe quarterly taxes.

Can quarterly federal income tax be paid once a year?

You get paid in reasonable increments throughout the year, say once a month. Likewise, the federal government 'also', does not want to get paid once a year. They wish to be paid in reasonable increments, say on a 'quarterly' basis. Sure, you can not make estimated payments and have a big tax bill once a year.

How to correct federal tax returns?

Those who need to amend should remember these tips:

• File using paper form. Use Form 1040X, Amended U.S. ...
• Amend to correct errors. ...
• Don’t amend for math errors, missing forms. ...
• File within three-year time limit. ...
• Use separate forms for each year. ...
• Attach other forms with changes. ...
• Wait to file for corrected refund for tax year 2017. ...
• Pay additional tax. ...
• Track amended return. ...