This version of the form is not currently in use and is provided for reference only. Download this version of Instructions for IRS Form 4720 for the current year.
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. An up-to-date fillable IRS Form 4720 is available for download through this link.
Q: What is IRS Form 4720?
A: IRS Form 4720 is a return form used to report and pay certain excise taxes under Chapters 41 and 42 of the Internal Revenue Code.
Q: Who needs to file IRS Form 4720?
A: Individuals or organizations that are liable for specific excise taxes described under Chapters 41 and 42 of the Internal Revenue Code need to file Form 4720.
Q: What are excise taxes?
A: Excise taxes are taxes imposed on the sale or use of certain goods, activities, or services, such as alcohol, tobacco, and firearms.
Q: What is Chapter 41 of the Internal Revenue Code?
A: Chapter 41 of the Internal Revenue Code covers excise taxes on various items, including firearms, ammunition, gasoline, and luxury items.
Q: What is Chapter 42 of the Internal Revenue Code?
A: Chapter 42 of the Internal Revenue Code covers excise taxes on certain types of foundations and charitable organizations.
Q: How do I file IRS Form 4720?
A: You can file IRS Form 4720 by mail or electronically. The instructions on the form provide details on how to file and pay the required excise taxes.
Q: When is the deadline to file IRS Form 4720?
A: The deadline to file IRS Form 4720 is usually the 15th day of the 5th month following the end of your tax year. Please refer to the instructions for specific deadlines.
Q: Are there any penalties for late filing or payment of Form 4720?
A: Yes, there may be penalties for late filing or payment. It is important to file and pay your excise taxes on time to avoid penalties and interest charges.
Q: What should I do if I have questions or need assistance with IRS Form 4720?
A: If you have questions or need assistance with IRS Form 4720, you can contact the IRS or consult a tax professional for guidance.
Instruction Details:
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