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IRS Form 720 is used to report excise taxes on fuel, which applies to all businesses engaged in the handling of gasoline, diesel, kerosene, and other kinds of taxable fuels. Form 720 was usually too lengthy and prone to error; thus, e-filing comes in here in a big way. Filing online helps you ensure accuracy, thereby avoiding penalties and staying in line with federal tax regulations, and, very importantly, eliminates the hassles of manual paperwork.

When Form 720 is e-filed, the returns are processed by the IRS systems immediately and made available to the IRS in a prompt manner, bypassing all possible delays with postal services or lost submissions. Many times, modern IRS e-file-authorized tax software with state-of-the-art technological means also takes you step-by-step through the process of making sure you include every required schedule and tax category. This further fast-tracks the filing, thus eliminating most opportunities for making miscalculations. In addition, for businesses undertaking excise tax filings on a quarterly basis, e-filing is among the secure, streamlined avenues that allow easy cross-referencing in the event of an inquiry.

Online filing is an easy process:

Get an account with an IRS-authorized e-file provider.

Select Form 720 Fuel Tax Return and enter your business information.

List taxable fuel categories, gallons, and their applicable excise tax rates.

Go through your form using integrated error-checking.

File it securely and receive confirmation from the IRS within minutes.

Using an intuitive piece of software, the majority of companies can perform all of the above in less than ten minutes, rendering e-filing the fastest option around.

In addition to being time savers, e-filing helps their businesses keep track of deadlines for quarterly submissions and preserve a return history while avoiding penalties for late submissions, inaccurate submissions, or submissions filed after the preliminary due date. Whether a distribution company, trucking company, or logistical provider, e-filing makes group tax reporting an easy process. Digital filing saves time, reduces stress, and provides comfort that your fuel tax return was filed easily and securely.