Can I file Form 720 Without Form 720 V

What is Form 720?

Form 720, the Quarterly Federal Excise Tax Return, is used to calculate and make excise tax payments on specific categories of goods and activities. Excise taxes are imposed on the purchase of certain items, such as fuel, tobacco, alcohol, airline tickets, and heavy trucks. 

By filing Form 720 quarterly, businesses ensure compliance with federal tax regulations related to these excise taxes.

What is Form 720 V?

Form 720-V is the payment voucher that should be completed when manually filing Form 720. This section is found on the last page of Form 720 and requires some basic details to be filled out before being sent to the IRS.

• EIN (Employer Identification Number)

• Amount of payment (Tax amount to be paid)

• Tax period (Which quarter)

• Business Name

• Address

Can I File Form 720 Without Form 720 V?

You cannot file Form 720 without including Form 720-V if you are filing manually. Form 720-V is a crucial part of the filing process, as it acts as a payment voucher and acknowledgment receipt.

Why to file Form 720 Online?

If you want to avoid using Form 720-V, you can opt for online filing. In online filing, the voucher part is not included. Additionally, there are several benefits to choosing online filing over manual filing, including:

• Faster processing: Online submissions are processed more quickly than manual filings.

• Simplicity: The online process is less complex and more user-friendly.

• Error reduction: Online systems often include checks that help reduce errors.

• Easy retrieval: Digital records are easy to store and retrieve when needed.

• Cost savings: Online filing can save costs associated with printing and mailing.

• Efficiency: The process is more efficient, and you receive immediate confirmation of your submission.

Why To Choose eFile720 For Form 720 Filing?

Our portal, eFile720, is IRS-approved 720 portal and designed with simple navigation and easy-to-understand steps. The filing process on eFile720 is significantly faster compared to other online portals. When you file with eFile720, you can entirely exclude the 720-V part, as this page is not included in our online Form 720 filing process.