Tuesday, August 23, 2022

Tax Tip 2022-129: Businesses can make excise taxes easier by filing and paying electronically

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IRS Tax Tips August 23, 2022

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Issue Number:  Tax Tip 2022-129


Businesses can make excise taxes easier by filing and paying electronically

The IRS encourages taxpayers who file federal excise taxes to file and pay electronically. Here are the excise forms currently available for e-filing:

  • Form 720, Quarterly Federal Excise Tax Return
  • Form 2290, Heavy Highway Vehicle Use Tax
  • Form 8849, Claim for Refund of Excise Taxes Return; Schedules 1, 2, 3, 5, 6 and 8 only

Advantages of excise e-file.

  • E-filing excise tax returns is safe, secure, easy, and accurate.
  • Form 720 e-file is convenient, plus taxpayers receive faster service and an acknowledgment from the IRS that the agency accepted their e-filed Form 720.
  • Form 8849 e-file offers faster refunds than through paper filing. Form 8849 Schedules 1, 2, 3, 5, 6 and 8 may be e-filed.
  • Form 2290 e-file provides taxpayers their Schedule 1, Form 2290, almost immediately after the IRS receives the e-filed form.

Excise tax e-file facts

  • Only providers who have passed the IRS Assurance Testing System requirements for software developers of electronic IRS Excise returns are listed on the excise tax e-file providers' pages.
  • IRS-approved excise tax e-file providers do charge a fee. This fee is not part of the excise tax payment.
  • Filers must have an Employer Identification Number to e-file excise tax returns. Taxpayers who don't already have an EIN can learn how to apply for one on IRS.gov.
  • Service is available 24/7.
  • Filers reporting 25 or more trucks on Form 2290 must e-file.

Paying the excise taxes completes the filing process, and there are multiple ways to pay any excise tax due, including electronic methods.

 

More information:
Excise Tax e-file for Forms 720, 2290 and 8849
Frequently Asked Questions — Form 8849, Claim for Refund of Excise Taxes
Frequently Asked Questions — Form 720, Quarterly Federal Excise Tax Return e-file
FAQs for Truckers Who e-file


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