Instructions For Form 720 - Quarterly Federal Excise Tax Return

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Notice 2007-97. You can find Notice 2007-97 on page

Recordkeeping

1092 of Internal Revenue Bulletin 2007-49 at

Keep copies of your tax return, records, and accounts of all

transactions to show that the correct tax has been paid.

You may also call the business and specialty tax line at

Keep records to support all claims and all exemptions at

1-800-829-4933 with your excise tax questions. The hours

least 4 years from the latest of the date:

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of operation are Monday - Friday, 7:00 a.m. to 10:00 p.m.

The tax became due,

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local time.

You paid the tax, or

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You filed a claim.

Private Delivery Services

Penalties and Interest

You can use certain private delivery services designated by

Avoid penalties and interest by filing returns and depositing

the IRS to meet the “timely mailing as timely filing/paying”

and paying taxes when due. The law provides penalties for

rule for tax returns and payments. These private delivery

filing a return late; depositing taxes late; paying taxes late;

services include only the following:

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willfully failing to collect and pay tax or file a return;

DHL Express (DHL): DHL Same Day Service, DHL Next

negligence; and fraud. These penalties are in addition to the

Day 10:30 am, DHL Next Day 12:00 pm, DHL Next Day 3:00

interest charged on late payments. The penalty for filing a

pm, and DHL 2nd Day Service.

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return late will not be imposed if you can show that the

Federal Express (FedEx): FedEx Priority Overnight,

failure to file a timely return is due to reasonable cause.

FedEx Standard Overnight, FedEx 2Day, FedEx

Those filing after the due date must attach an explanation to

International Priority, and FedEx International First.

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the return to show reasonable cause.

United Parcel Service (UPS): UPS Next Day Air, UPS

Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air

Trust fund recovery penalty. If communications and air

A.M., UPS Worldwide Express Plus, and UPS Worldwide

transportation taxes are collected but not paid to the United

Express.

States Treasury or are willfully not collected, the trust fund

recovery penalty may apply. The penalty is the full amount

The private delivery service can tell you how to get

of the unpaid tax.

written proof of the mailing date.

The trust fund recovery penalty may be imposed on all

Private delivery services cannot deliver items to P.O.

persons who are determined by the IRS to be responsible

boxes. You must use the U.S. Postal Service to mail

for collecting, accounting for, and paying over these taxes,

any item to an IRS P.O. box address.

and who acted willfully in not doing so.

CAUTION

A responsible person can be an officer or employee of a

Photographs of Missing Children

corporation, a partner or employee of a partnership, an

employee of a sole proprietorship, an accountant, or a

The Internal Revenue Service is a proud partner with the

volunteer director/trustee. A responsible person may also

National Center for Missing and Exploited Children.

include one who signs checks for the business or otherwise

Photographs of missing children selected by the Center may

has authority to cause the spending of business funds.

appear in instructions on pages that would otherwise be

blank. You can help bring these children home by looking at

Willfully means voluntarily, consciously, and intentionally.

the photographs and calling 1-800-THE-LOST

A responsible person acts willfully if he or she knows the

(1-800-843-5678) if you recognize a child.

required actions are not taking place.

Additional Information

Specific Instructions

You may find the following products helpful when preparing

Form 720 and any attachments.

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Pub. 510, Excise Taxes, contains definitions and

Name and Address

examples that will help you prepare

The first time you file Form 720, type or print your name,

Form 720. Pub. 510 also contains information on fuel tax

credits and refunds.

address (including the suite, room, or other unit number),

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and the quarter ending date (month and year). After that, the

Pub. 509, Tax Calendars for 2008, has deposit and

IRS will mail you a Package 720 with a preaddressed Form

payment due dates for all federal excise taxes.

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720 every quarter. If your address changes, make the

Notice 2005-4. You can find Notice 2005-4 on page 289

of Internal Revenue Bulletin 2005-2 at

corrections on Form 720 and check the address change box

above Part I of Form 720.

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Notice 2005-24. You can find Notice 2005-24 on page

P.O. box. If the post office does not deliver mail to the

757 of Internal Revenue Bulletin 2005-12 at

street address and you have a P.O. box, show the box

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number instead of the street address.

Notice 2005-62. You can find Notice 2005-62 on page

443 of Internal Revenue Bulletin 2005-35 at

Foreign address. Enter the city, province or state, and

country. Follow the country’s practice for entering the postal

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Notice 2005-80. You can find Notice 2005-80 on page

code. Do not abbreviate the country name.

953 of Internal Revenue Bulletin 2005-46 at

pub/irs-irbs/irb05-46.pdf.

Employer Identification Number (EIN)

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Notice 2006-50. You can find Notice 2006-50 on page

1141 of Internal Revenue Bulletin 2006-25 at

If the EIN on the preaddressed Form 720 is wrong or you

pub/irs-irbs/irb06-25.pdf.

did not receive a preaddressed Form 720, enter the correct

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Notice 2006-92. You can find Notice 2006-92 on page

number. If you are a one-time filer, you may not need an

774 of Internal Revenue Bulletin 2006-43 at

EIN. See Gas guzzler tax on page 6. If you do not have an

pub/irs-irbs/irb06-43.pdf.

EIN, you may apply for one online. Go to the IRS website at

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Notice 2007-11. You can find Notice 2007-11 on page

businesses/small and click on the “Employer ID

405 of Internal Revenue Bulletin 2007-5 at

Numbers” link. You may also apply for an EIN by calling

pub/irs-irbs/irb07-05.pdf.

1-800-829-4933 (hours of operation are Monday - Friday,

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Notice 2007-37. You can find Notice 2007-37 on page

7:00 a.m. to 10:00 p.m. local time), or you can fax or mail

1002 of Internal Revenue Bulletin 2007-17 at

Form SS-4, Application for Employer Identification Number,

pub/irs-irbs/irb07-17.pdf.

to the IRS.

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Instructions For Form 720 - Quarterly Federal Excise Tax Return - 2008 Page 2

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