Retail Tax Filing for IRS Form 720
Filing the federal excise return can feel complex for busy retailers and service providers. With eFileExcise720 you file Form 720 online through an IRS authorized portal that is fast, secure and hassle free. This page explains how the retail excise rules work on Form 720 who must file each quarter and how our platform guides you from start to finish. You will also see where Retail Tax fits on the form so you can stay compliant with less stress. If your business sells heavy trucks or offers indoor tanning services you likely have reportable transactions. Create a free account, start a return and submit with confidence. Your data stays safe on our system and our support team is ready to help.
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What is the retail excise reported
on Form 720
Form 720 is the quarterly federal excise tax return. It covers many taxes tied to specific goods or services rather than net income. Some items are taxed at the point of retail sale. On Form 720 that includes the 12 percent tax on heavy trucks, trailers and tractors sold at retail under section 4051 plus the 10 percent tax on indoor tanning services under section 5000B. These taxes are reported by the seller each quarter.
If you collect the tax from the buyer you still need to file the return and remit the amount due. If you include the tax in the price you must keep records to show how you computed the tax. Our platform supports both methods and helps you enter the taxable amount and the calculated tax with clear prompts.
Who Must File and What Sales are Covered
You must file Form 720 for any quarter in which you have taxable retail sales of heavy vehicles or indoor tanning services. You may also need to file for other excise categories like fuel or manufacturer taxes. eFileExcise720 supports all Form 720 categories so you can manage every part in one return.
Heavy trucks and trailers sold at retail
Sellers of certain highway tractors, heavy trucks and trailers file the return and pay the 12 percent tax on the first retail sale. The tax base is the price of the article excluding a few statutory items like the federal tire excise where applicable. Some sales may be exempt, for example a sale for resale or export with proper proof. Keep invoices, exemption certificates and price computations in your records.
Indoor tanning services
Operators of indoor tanning facilities collect a 10 percent tax on the amount paid for the service and report it each quarter. This applies to fees for indoor ultraviolet tanning services. It does not apply to phototherapy services performed by a licensed medical professional when properly documented. Keep daily logs of sessions, package redemptions and amounts collected to support the tax reported.
How eFileExcise720 Makes Filing Simple
eFileExcise720 is an IRS authorized e filing provider for Form 720. You can create a free account, start a draft return and finish when you are ready. The dashboard is clean and easy to navigate. Guided steps help you select the right lines for retail excise items then enter sales totals and compute the tax.
- Secure data protection safeguards your information with encryption.
- Personalized customer support answers questions by email or phone.
- No software download is needed, you work in your browser.
- The system supports Form 720 amendments using Form 720-X and helps with Form 8849 claims when you qualify.
When you transmit the return you receive an IRS acceptance notification for your records. You can view copies of accepted returns in your account any time. If a return is rejected the system shows the error code and steps to fix it so you can resubmit fast.
What You Need to Get Started
Gather a short checklist before you begin. Having these items nearby will save time and reduce errors.
Log in at eFileExcise720, choose the quarter and select the lines that match your sales. The app totals your entries and shows the tax so you can review before you transmit. You can save a draft return then come back to finish if you need more time.
Due Dates, Payments and Corrections
Form 720 is due on April 30 for the first quarter, July 31 for the second quarter, October 31 for the third quarter and January 31 for the fourth quarter. If the due date falls on a weekend or holiday the next business day applies. Late filing or late payment can lead to penalties and interest. Filing on time through our e file system helps you avoid missed deadlines.
You can authorize an electronic funds withdrawal when you e file or pay through EFTPS. Some excise taxes in Part I require semimonthly deposits through EFTPS when amounts are above set thresholds. Check the IRS instructions for details and keep deposit confirmations with your records.
If you discover an error after filing you can amend using Form 720-X. eFileExcise720 supports amendments so you can correct line items, credits or math mistakes. If you are due a refund of excise tax for an approved reason you may be able to claim it on Form 8849. Our team can guide you on how to create these forms in your account.
Filing Retail Tax on time keeps your business compliant and protects cash flow. Start your Form 720 return with eFileExcise720 today and file with clarity and confidence right now. Create a free account, choose your quarter and follow guided steps to complete the return. Save a draft, review totals then transmit securely to the IRS. If you need help our support team is ready with clear answers so you can finish on time.
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The final person I talked to was able to really help me and stayed on the line until the issue was resolved. I was about to end the call but she convinced me that she knew what i needed to do. A very good customer service person. Superior!.
The final person I talked to was able to really help me and stayed on the line until the issue was resolved. I was about to end the call but she convinced me that she knew what i needed to do. A very good customer service person. Superior!.