Due to reduced staffing and processing backlogs, the IRS advises that paper filings may be subject to significant delays. Taxpayers are encouraged to file Form 720 and Form 8849 electronically through IRS-authorized e-file providers to receive faster IRS acknowledgment and processing.
Under Executive Order 14247, the federal government is modernizing payment systems by phasing out paper refund checks in favor of electronic payments. As part of this initiative, the IRS is reducing reliance on paper submissions and paper refunds to improve security, efficiency, and processing timelines.
Note: These summaries are provided for general information.
For official policies and current guidance, always refer to IRS.gov or contact the IRS directly.
Simple720 is an IRS-authorized online portal for filing Form 720 and Form 8849 federal excise tax returns. The IRS has indicated that electronic filing is the preferred method, as paper submissions are experiencing significant delays and, in some cases, are no longer being processed.
The platform enables taxpayers to prepare excise tax filings electronically, automatically calculates tax amounts for applicable categories, and securely transmits returns to the IRS through an approved system. Official IRS acknowledgment is received within minutes of submission.
Simple720 is SOC 2 certified, ensuring taxpayer information is stored securely. The platform is fully IRS-compliant and supports accurate, timely, and exclusively electronic excise tax reporting, eliminating the inefficiencies of manual Form 720 filings through a streamlined online process.
Federal excise tax is a tax imposed on specific goods, services, and activities that are harmful to the environment. It applies to items such as fuel, chemicals, alcohol, and services like air transportation and heavy vehicle use. Businesses that manufacture, sell, or use these taxable goods and services are required to file Form 720 to report and pay excise taxes.
Form 720, commonly referred to as the Quarterly Federal Excise Tax Return, is used to report and pay federal excise taxes across a variety of categories, including PCORI, Tanning Taxes, Truck Excise Taxes, Environmental Taxes, Communications and Air Transportation, Fuel Taxes, Repurchase of Corporate Taxes, and more. Businesses liable for these Federal Excise Taxes must file this tax form quarterly. Each quarter comes with its filing deadline, making timely and accurate submission essential for maintaining IRS compliance and avoiding penalties.
Federal excise taxes are categorized into below main types
Here is the 5 Step Simple Guide to file your Form 720 Federal Excise Tax in just a few clicks!
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E-filing is the transmission of business tax returns to the IRS through the internet. Electronic filing is the safest, most secure, and most private way to send your tax return to the IRS. Once you e-file your return, you will receive an electronic acknowledgment that the IRS has accepted your return for processing.
If your business does not have an EIN (Employer Identification Number), you will need to obtain one, as it is generally required for tax and legal purposes. You can easily apply for an EIN online through the official IRS website.
A Business Name refers to the official, registered name of a business or organization under which it operates. This name is used for legal, branding, and communication purposes.
No, you cannot file your return without registering on our site. To proceed with filing, you must first complete the registration process.
Filing your return is a quick and easy process. Simply spend a few minutes providing the required information, and we will take care of the rest.
Yes, you can save your tax return and return later to complete the filing process at your convenience.
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Latest Form 720 Instructions Released!
The latest update in the Instructions for Form 720 (Rev. March 2025) includes changes such as the expiration of certain biodiesel and alternative fuel credits after 2024, adjustments in excise taxes for air travel and arrow shafts due to inflation, and updated guidelines for corporate stock repurchase excise tax reporting. Taxpayers can now also use IRS Direct Pay for electronic tax payments starting October 2024.
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The IRS annual shutdown is a planned system maintenance period that happens every year. During this time, the IRS temporarily stops processing all electronic tax filings. The shutdown usually begins around December 26 and continues until mid-January.
Tanning booths use UV light to create melanin in the skin to give your customers that sun-kissed look. Customers may want to use indoor tanning booths because of aesthetic reasons, to ensure that their tan is maintained throughout the year, or to ensure that they achieve a desired outcome in a controlled environment.
Simple720 is developed by a team of tax experts with one goal in mind: making 720 excise tax filings simple for our valued clients.
