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Oil Spill Tax Online Quickly with Simple720!

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Petroleum Products Oil Spill Tax

What Is the Imported Petroleum
Products Oil Spill Tax (IRS No. 21)?

Petroleum Products Oil Spill Tax

The Imported Petroleum Products Oil Spill Tax under Internal Revenue Code Section 4611 is a federal environmental excise tax imposed on petroleum products when they are entered into the United States for consumption, use, or warehousing. This tax specifically funds the Oil Spill Liability Trust Fund (OSLTF), which provides funding for cleanup and response activities related to oil spills under environmental law.

Importantly, the Imported Petroleum Products Oil Spill Tax is part of the broader petroleum tax regime, which also includes the petroleum Superfund tax (reported under IRS No. 16).

Key Points
  • The Imported Petroleum Products Oil Spill Tax is reported on Form 720 (IRS No. 21) and calculated on Form 6627 for environmental taxes.
  • This tax applies when petroleum products are entered into the United States for consumption, use, or warehousing.
  • The petroleum oil spill tax component historically has been set at $0.09 per barrel (through 2025).
 
  • The tax is generally imposed only once per imported petroleum product.
  • The total petroleum tax regime often includes both the oil spill tax (IRS No. 21) and the petroleum Superfund tax (IRS No. 16), though they are reported separately.
  • The Oil Spill Liability Trust Fund financing rate was scheduled to expire December 31, 2025 under IRC Section 4611(c)(f)(2).
Who Is Responsible for Paying This Tax?

The responsibility for paying the Imported Petroleum Products Oil Spill Tax generally falls on the person entering the petroleum products into the United States for use, consumption, or warehousing. This liable party must file Form 720 quarterly and include Form 6627 to accurately calculate and report the amount of tax owed.

Why Opt for Electronic Filing for Your Imported
Petroleum Products Oil Spill Tax (IRS No. 21)?

Instant Confirmation and
Tracking
Receive immediate confirmation of your filing, ensuring that your Imported Petroleum Products Oil Spill Tax has been successfully submitted. You can also track your filing status and any updates without delays.
Enhanced Accuracy with Built-in Validations
With electronic filing, you benefit from built-in error checks and automatic calculations, reducing the risk of mistakes that could lead to penalties or delays in processing.
Simplified Compliance with IRS Requirements
Stay compliant with IRS regulations as the system ensures all necessary forms are accurately filled out, reducing the complexity of your filing and helping you avoid potential compliance issues.

Steps to Complete Your Imported Petroleum Products
Oil Spill Tax (IRS No. 21) Filing with Simple720

STEP 1
Enter Business Details
Provide your business name, address, EIN, and contact information.
Filing Steps Image 1
Filing Steps Image 2
STEP 2
Tax Information
Navigate to Environmental Tax and select Imported petroleum products Oil Spill Tax (IRS No. 21).
Enter
  • Tax date
  • Barrels imported
  • Tax amount
STEP 3
Payment Information
Review the tax amount and select your preferred payment method to finalize the filing.
Filing Steps Image 3
File Form 720 Online

Why Choose Simple720 for Filing Your Imported
Petroleum Products Oil Spill Tax (IRS No. 21)?

IRS Authorized Electronic
Filing and Secure Platform
Simple720 is an IRS-approved e-filing provider for the Imported Petroleum Products Oil Spill Tax (IRS No. 21), ensuring secure and compliant submission of your tax returns. Our AICPA SOC compliant platform protects your sensitive business and tax information throughout the filing process.
Easy Navigation for
Quick Filing
Simple720 offers an intuitive and user-friendly interface that guides you through the filing process with ease. You can quickly complete your Imported Petroleum Products Oil Spill Tax submission without navigating complicated steps or forms.
Affordable Pricing for
Peace of Mind
Simple720 provides competitive pricing to help businesses file the Imported Petroleum Products Oil Spill Tax efficiently. With no hidden fees and clear pricing structures, Simple720 makes it easy for businesses to stay compliant without breaking the bank.

Simple720 Vs Others

IRS Authorized e-Filer Brand X Brand Y Brand Z
Cloud-Based Yes No No No
Software Download None Yes-PC Only Yes Yes
License None Required Required Required
Annual Contract No Required Required Required
All Excise Taxes Yes Fuel Taxes Only No No
Cost $59.95/return $1,000+/yr. $1,500+/yr. $5,000+/yr.
Testimonial
What Clients Are Saying
- John D., Texas

Efficient and Secure Filing Process
Simple720 made filing my Imported Petroleum Products Oil Spill Tax a breeze. Their IRS-approved e-filing service was seamless, and I felt confident knowing my sensitive information was securely protected.

- Sara P., California

User-Friendly Interface for Quick Filing
I was able to navigate through the filing process with ease. Simple720's platform is so intuitive that I filed my taxes in no time. Highly recommended for anyone looking for a simple and effective solution!

- Michael T., Florida

Cost-Effective and Transparent Pricing
The pricing was straightforward, with no hidden fees. Simple720 offers excellent value for the quality of service they provide. Filing the Imported Petroleum Products Oil Spill Tax has never been more affordable.

File Form 720 Online

Frequently Asked Questions

The tax is imposed when imported petroleum products enter the United States for use, consumption, or warehousing. The person entering the product into the U.S. is generally responsible for the tax.

This tax must be reported quarterly on IRS Form 720 (Quarterly Federal Excise Tax Return). The environmental tax amount is calculated and included using Form 6627.

Yes, the oil spill tax rate is set by statute and may be subject to legislative changes; historically it has been $0.09 per barrel through 2025.

No, the oil spill tax is imposed only once on each imported petroleum product when it first enters the United States.

Yes. Under current law, the Oil Spill Liability Trust Fund financing rate will not apply after December 31, 2025 unless Congress renews it.

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