Fuel Excise Tax can be paid conveniently online using our IRS-authorized portal- Simple720. Here’s a detailed guide to assist you through the process.
Step 1
Create an Account
If you are a new user, begin by creating a free account on the Simple720 portal. Existing users can log in directly using their credentials.
Step 2
Provide Business Details
For new users, the next step is to enter your business details. Click on “Add New Filings” 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.
Step 3
Select the Form Type
Choose “Form 720 (Quarterly Federal Excise Tax)” from the list of form options. Then, specify the tax year and quarter for which you are filing.
Step 4
Choose Fuel Tax Categories
From the left panel under Form 720, navigate to the Fuel Taxes section. Select the relevant category for your filing by verifying the IRS-assigned numbers listed in Form 720.
To know more about various fuel excise taxes and tips for smoother filing, check out our blog post, Fuel Excise Tax: Ultimate Guide. This resource offers valuable insights to help you navigate the filing process effortlessly.
Step 5
Provide Tax Details
Based on your chosen category, the portal will prompt you to input applicable details such as:
Fuel quantities
Tax dates
Tax amounts
Fill in the required information carefully to ensure accuracy.
Step 6
Verify Tax Amounts
Simple720 automatically calculates the total tax amount based on the details you’ve entered. Review this summary on your dashboard to confirm its accuracy before proceeding.
Step 7
Make Your Payment
Choose your preferred payment method to complete the filing. Available options include:
Electronic Funds Withdrawal (Direct Debit)
EFTPS (Electronic Federal Tax Payment System)
Once your payment is processed, your Fuel Excise Tax filing is complete.
IRS Approval and Acknowledgment
After submitting your form, the IRS will review your filing. Once approved, you’ll receive an acknowledgment at your registered communication address.
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