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1. Form 720 Form 720 tax Quarterly Federal Excise Tax Return What is form 720? it‘sFederal excise taxes Form 720 is a tax form required of businesses that deal with the sale of certain goods (like alcohol or gasoline) and services (for instance, tanning salons). These businesses are required to pay extra taxes, known as “Excise Taxes”, and they are accounted for through this form. Tax Form 720 consists of three sections, along with Schedule A, Schedule T, and Schedule C sections, and a payment coupon (called Form 720V). You must file Form 720 quarterly if your business is responsible. However, semi- monthly payments for excise taxes are required (twice per month). These payments should be made electronically via funds transfer. What Goods Are Subject to Form 720 Taxes?

2. Federal Excise tax goods are products or services that are harmful to the environment or people. These include: ●Firearms ●Fishing equipment ●Foreign insurance ●Gambling ●Gasoline ●Indoor tanning services ●Tires (for highway vehicles) ●Trucks & trailers ●Tobacco products ●Airline tickets ●Alcohol ●Automobiles (that consume large amounts of gasoline) ●Bow & Arrows (and accessories) ●Business telephone lines ●Coal products ●Crude oil and petroleum products ●Electric outboard motors Form 720 can be imposed by federal, state, or local governments. Federal excise taxes are reported and paid through form 720. who needs to file IRS form 720 (excise taxes)? Form 720 is paid by the business that purchases the product or the seller of the service. This tax is reported and paid quarterly using form 720. Semi-monthly reporting may be required for alcohol, tobacco, and firearms. Although firearms, tobacco, and alcohol are subjected to excise tax, they are not covered by Form 720. These products must be

3. reported to the Alcohol and Tobacco Tax and Trade Bureau and must be reported through their Form 720 website. When Is It Due date? IRS form 720 is to be filed one month after the end of each calendar quarter, except for certain kinds of excise taxes that are not for the payment of premiums to foreign insurance companies. You are liable to file Form 720, the federal excise taxes every quarter when you offer a service, sell a product or goods that have an excise tax component.

4. where to file form 720 Form 720 IRS instructions are on the IRS Form 720 website. ●You can also print the completed form and mail it to IRS form 720. ●Working with a tax professional who is enrolled in the Form 720 IRS efile program for excise taxes allows you to file electronically.

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6. E- filing form 720 is as easy as 1-2-3-4 Step 1: Use our www.simple720.com now! Proces Step 2: Register with us to e-file Form 720 · Step 3: fill in all the details that are required from form 720 filings.

7. Step 4: Print your completed, which is automatically e-mailed to you · when your e-file is accepted. That's all two is to it. No long lines at the IRS, no waiting for the mailman, and no lost documents. With us, you get fast affordable service from a company that treats your business like their own For more information visit our site -www.simple720.com $35.95 per Filing support@simple720.com SUPPORT +1 510 474 1376 +1 224 215 5888 (Spanish) ADDRESS SIMPLE 720 - TRIESTEN TECHNOLOGIES, LLC

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