Instructions for IRS Form 4720 Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code

This document contains official instructions for IRS Form 4720 , Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury.

FAQ

Q: What is IRS Form 4720?
A: IRS Form 4720 is a form used to report and pay certain excise taxes under Chapters 41 and 42 of the Internal Revenue Code.

Q: What are excise taxes?
A: Excise taxes are taxes imposed on the sale or use of certain goods or services, such as alcohol, tobacco, and transportation fuels.

Q: Which chapters of the Internal Revenue Code does Form 4720 cover?
A: Form 4720 covers excise taxes under Chapters 41 and 42 of the Internal Revenue Code.

Q: When is Form 4720 due?
A: Form 4720 is generally due on the 15th day of the 5th month after the end of the organization's tax year.

Q: What information do I need to complete Form 4720?
A: You will need information such as your organization's name, taxpayer identification number, and details of the excise taxes you owe.

Q: Can I file Form 4720 electronically?
A: Currently, Form 4720 cannot be filed electronically. You must mail a paper copy of the form.

Q: Are there any penalties for failing to file Form 4720?
A: Yes, there can be penalties for failing to file Form 4720, such as a failure-to-file penalty and potential interest on unpaid taxes.

Q: Can I claim a refund on Form 4720?
A: Yes, you can claim a refund on Form 4720 if you overpaid your excise taxes.