Frequently Asked Questions About Excise720, Form 720 and Form 8849

Question 1

What is Excise720?

Accepted Answer

Excise720 is an online federal excise tax e-filing platform that helps businesses, tax professionals, and eligible individuals prepare and electronically file IRS Form 720 and Form 8849.

Question 2

What is IRS Form 720?

Accepted Answer

IRS Form 720 is the Quarterly Federal Excise Tax Return used to report applicable federal excise tax liabilities, including environmental, communications, air transportation, fuel, manufacturing, retail, PCORI, and other excise taxes.

Question 3

What is IRS Form 8849?

Accepted Answer

IRS Form 8849, Claim for Refund of Excise Taxes, is used to request refunds of qualifying federal excise taxes. The applicable schedule depends on the type of refund claim.

Question 4

Can Form 8849 be filed electronically?

Accepted Answer

Yes. Eligible Form 8849 refund claims and supported schedules can be electronically filed through an authorized e-file provider.

Question 5

What is the difference between Form 720 and Form 8849?

Accepted Answer

Form 720 is generally used to report and pay federal excise taxes, while Form 8849 is used to claim refunds of qualifying federal excise taxes.

Question 6

Can Form 8849 be used for taxes reported on Form 720?

Accepted Answer

Yes, in qualifying situations. Form 8849 Schedule 6 may be used for certain eligible refund claims involving excise taxes previously reported on Form 720.

Question 7

How often is Form 720 filed?

Accepted Answer

Form 720 is generally filed quarterly. Standard due dates are April 30, July 31, October 31, and January 31, subject to IRS weekend and legal holiday rules.

Question 8

Can I file Form 720 with no tax due?

Accepted Answer

Depending on the filing requirement and circumstances, a Form 720 return may still need to be filed even when there is no current excise tax liability.

Question 9

Does Excise720 support PCORI fee filing?

Accepted Answer

Yes. Excise720 supports applicable PCORI fee reporting and electronic filing through IRS Form 720.

Question 10

Can tax professionals use Excise720?

Accepted Answer

Yes. Tax professionals and tax preparers can use Excise720 to prepare and manage applicable federal excise tax filings for their clients.

Question 11

Can I track my filing after submission?

Accepted Answer

Yes. Excise720 provides filing status information through the online dashboard after an electronic filing is submitted.

Question 12

Where is Excise720 located?

Accepted Answer

Excise720 is based at 4140 Timber Log Way, Fairfax, Virginia 22030, United States.

Question 13

How much does Excise720 cost?

Accepted Answer

Excise720 charges a flat rate of $9.95 per filing for Form 720 or Form 8849, regardless of the applicable tax category or number of supported tax types included in the filing.

Question 14

Are Schedule A, Schedule C and Schedule T included?

Accepted Answer

Yes. Schedule A, Schedule C, and Schedule T preparation is included when applicable, with no separate per-schedule charge.