How to File Gas Guzzler Tax with Simple720 – Step-by-Step Guide

Step 1 - Create an Account: If you’re a new user, sign up for a free Simple720 account. Existing users can log in with their credentials.

Step 2 - Provide Business Details: For new users, the next step is to enter your business details. Click on “Add New Filings” and click on “Add New Business” and complete the required fields, including:

• Business Name

• Employer Identification Number (EIN)

• Business Type (select from the drop-down options)

• Business Contact Information

If you’re an existing user, simply select the stored business name from the database.

Step 3 - Choose Form Type: Select “Form 720 (Quarterly Federal Excise Tax)” as the form type. Accurately provide the tax year and quarter you are filing for, then click “Proceed.”

Step 4 - Select Gas guzzler Excise Tax: Click on the left-side menu and choose “Gas Guzzler Tax” (IRS Number 40) listed under “Manufacturers Taxes” to begin your filing process.

Step 5 - Enter Filing Information: Enter the required details including Tax Date, Model Name, Model Year, Make, Fuel Economy (mpg), and the Number of Automobiles to proceed with the filing.

Step 6 – Auto Calculation: The tax amount is automatically calculated and displayed on the portal.

Step 7 - Choose a Payment Method: Review your information and choose one of the IRS payment methods:

• Electronic Funds Withdrawal (Direct Debit)

• EFTPS - Electronic Federal Tax Payment System

Step 8 - Complete Your Filing: Once the payment is completed, your Gas Guzzler Excise tax filing will be submitted within minutes.

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