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This comprehensive guide will walk you through the process of filing your Other Excise Tax (IRS Number 31) seamlessly using Simple720, our IRS-Authorized online portal.

What is Form 720 and Why Is It Important? Form 720 is the IRS's official document used by businesses to report and pay various types of Federal Excise Taxes. This form is used to calculate taxes for things like environmental taxes, fuel taxes, and other specific excise taxes imposed on certain goods and services.

What is Form 637? Form 637, issued by the IRS, is used by businesses to register for specific excise tax exemptions. It allows businesses engaged in activities such as fuel export and certain operations to avoid paying the Federal Excise Tax (FET) upfront, especially during business activities like fuel exports.

A Recap on Tire Excise Tax The Federal Tire Excise Tax applies to the sale of certain tires used on highway vehicles. The tax rate is based on the tire's load capacity, with standard tires taxed at $0.0945 per 10 pounds, and bias-ply or super single tires taxed at $0.04725 per 10 pounds.

The Superfund Chemical Excise Tax, reinstated by the Infrastructure Investment and Jobs Act, resumed on July 1, 2022, marking reinstitution of excise duties on certain chemicals (IRC §§ 4661–4671).

The Superfund Excise Tax is a federal tax imposed on the manufacture, production, or import of certain hazardous chemicals and substances. It helps fund the cleanup of contaminated sites under the Environmental Protection Agency’s (EPA) Superfund program.

A Recap on Federal Retail Excise Tax The Federal Retail Excise Tax (FRET) is a 12% tax applied to the first retail sale of certain heavy vehicles, including trucks, trailers, and tractors. It is mandated under IRS regulations to help fund highway and transportation projects.

What is the Superfund Excise Tax? The Superfund Excise Tax was originally enacted under the Internal Revenue Code Section 4671 and Section 4672. It is meant to help fund the cleanup of hazardous waste sites under the Environmental Protection Agency's (EPA) Superfund program.

When it comes to filing your Federal Excise Tax returns, efficiency, affordability, and compliance are key. That’s where Simple720 comes in.

Federal excise tax returns can be complex, and errors sometimes happen. Whether it’s a miscalculation, incorrect tax category, or missed claim, Form 720-X is your official way to amend a previously filed Form 720.

What Is a Federal Excise Tax? Federal Excise Taxes are specific taxes imposed by the U.S. government on the sale or use of particular goods, services, or activities. Unlike income or payroll taxes, excise taxes are often included in the price of products like gasoline, alcohol, tobacco, and air travel.

What Is the PCORI Fee? The PCORI fee is a federal charge established under the Affordable Care Act (ACA). It’s designed to fund research that helps patients and healthcare providers make informed decisions based on evidence and outcomes.