The Ship Passenger Excise Tax is a federal tax levied on specific voyages conducted by commercial passenger vessels operating in U.S. waters. The current tax rate is $3 per passenger per covered voyage.
Refer to our blog on ship passenger excise taxes to have a comprehensive understanding about the Ship Passenger Excise Tax.
Here’s a step-by-step guide for filing the Ship Passenger Tax online using our IRS-approved portal, Simple720:
Create an Account: If you’re a new user, sign up for a free Simple720 account. Existing users can log in with their credentials.
Provide Business Details: For new users, the next step is to enter your business details. Click on “Add New Filings” and click on “Add New Business” and complete the required fields, including:
Business Name
Employer Identification Number (EIN)
Business Type (select from the drop down options)
Business Contact Information
If you’re an existing user, simply select the stored business name from the database.
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.”
Select Ship Passenger Tax: From the left-hand menu, Select the “Transportation by Water” (IRS number 29) section Under the Ship Passenger Tax dropdown.
Enter Tax Category Details: Input the required details, including the tax date and the total number of individuals subject to the tax. The portal will automatically compute the tax amount based on the entered information and display the calculated total on the dashboard.
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
Complete Your Filing: Once the payment is completed, your Ship Passenger Excise Tax filing will be submitted within minutes.
By following the steps outlined above accurately, you can complete your Ship Passenger Excise Tax filing quickly and efficiently, usually within just a few minutes.
WRAP:
By the end of this blog, you now have a clear understanding of the detailed steps involved in filing your Ship Passenger Excise Taxes online using Simple720