How to File Sport Fishing Equipment Tax Online?

In this blog, we’ll walk you through the process of filing your sport fishing equipment tax online using a convenient, IRS-approved platform - Simple720. With Simple720, filing this specific tax can be done quickly and securely. 

Let’s explore the step-by-step guide to completing your sport fishing equipment tax filing online, making the process as easy and straightforward as possible.

Here is a detailed guide to filing your Sport Fishing Equipment Tax using Simple720, an IRS-approved platform. Follow these steps to complete your filing smoothly:

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.

2. Add a New Filing: Click on “Add New Filings” and fill in your business details, including business name, Employer Identification Number (EIN), business type (select from the dropdown options), and business contact information.

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.”

4. Select Sport Fishing Equipment: From the left menu, select “Sport Fishing Equipment” by choosing IRS number 41 under Part 2.

5. Enter Sales Information: Enter the sales price of the fishing equipment subject to this tax. The tax amount will be calculated automatically at the rate of $0.10 per dollar of sales and displayed on the dashboard.

6. 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

7. Complete Your Filing: Once the payment is completed, your Sport Fishing Equipment Tax filing will be submitted within minutes.

Before beginning the filing process, review the checklist below to ensure you have all necessary information and documentation ready, helping to streamline your experience.

This process makes filing your Sport Fishing Equipment Tax simple and fast, ensuring compliance without unnecessary hassle.

Before you begin filing your Sport Fishing Equipment Tax, gather the following information to ensure a smooth and efficient process:

1. Business Details

• Business Name

• EIN (Employer Identification Number)

• Business Type (e.g., LLC, Corporation, etc.)

• Business Contact Information (address, phone number, and email)

2. Tax Details

• Tax Year (the year for which you are filing)

• Tax Quarter (the specific quarter for which the tax is applicable)

3. Sport Equipment Sales Price

• Total sales price of the sport fishing equipment that is subject to tax.

4. Payment Information

• Bank or Card Details for payment processing, depending on your chosen payment method (e.g., Direct Debit or EFTPS).

Having these details ready will make your filing process with Simple720 quicker and more seamless.

WRAP:

After reading this guide, you’ll be ready to file your Sport Fishing Equipment Tax online with ease. Using Simple720’s streamlined process, you’ll have all the steps and tips to complete your filing quickly and accurately.