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You must file if you are liable for, or responsible for collecting, any federal excise taxes listed in Form 720 Parts I and II. This includes fuel distributors, health plan sponsors (for the PCORI fee), air carriers, vaccine manufacturers, tire manufacturers, remittance transfer providers (new for 2026), and many others.

Created by the One Big Beautiful Bill Act of 2025 under IRC §4475, this is a 1% excise tax on certain remittance transfers occurring after December 31, 2025. It applies when the sender funds the transfer with cash, money order, cashier's check, or a similar physical instrument. Remittance transfer providers must collect the tax, make semimonthly deposits, and file quarterly on Form 720. The IRS has provided limited penalty relief for deposits in Q1–Q3 2026.

Quarterly returns are due April 30 (Q1), July 31 (Q2), October 31 (Q3), and January 31 (Q4). The PCORI fee is reported annually on the second-quarter return, due July 31. If a due date falls on a weekend or holiday, you may file the next business day.

File and pay as soon as you can — penalties accrue until you do. The IRS generally charges a failure-to-file penalty of 5% of the unpaid tax per month (up to 25%), a separate failure-to-pay penalty of 0.5% per month, plus interest on the unpaid balance. Filing late is still far better than not filing, and if you have reasonable cause you can request penalty abatement.

The PCORI fee — the Patient-Centered Outcomes Research (PCOR) fee — is paid by issuers of specified health insurance policies and sponsors of applicable self-insured health plans. For plan years ending on or after October 1, 2025 but before October 1, 2026, the rate is $3.84 per average covered life (the prior $3.47 rate applies to plan years ending Oct 1, 2024 – Sep 30, 2025). It is reported on the Q2 Form 720, due July 31.

Yes. A TPA, CPA, or paid preparer can prepare and e-file Form 720 on your behalf when authorized. Note that the business or plan sponsor that owes the excise tax remains legally responsible for the return and the payment — the preparer files for you, not in your place. EasyFile720 lets preparers manage multiple clients and EINs from one dashboard.

Key 2026 rates: Diesel and kerosene — $0.244/gallon. Gasoline — $0.184/gallon. Aviation gasoline — $0.194/gallon. Kerosene for commercial aviation — $0.044/gallon. CNG — $0.183/GGE. LNG — $0.243/DGE. All rates are built into EasyFile720 — no manual lookups needed.

Generally yes, if your net liability for Part I taxes exceeds $2,500 for the quarter. Deposits are due by the 14th day following each semimonthly period. Part II taxes (including the PCOR fee) are paid with the return, not deposited via EFTPS.

Yes, if you report a liability in Part I or II. Schedule C allows credits for nontaxable fuel uses (farming, export, government, buses), ultimate vendor claims, tire credits, and other eligible uses. The minimum claim amount varies by fuel type ($100–$750). EasyFile720 supports all Schedule C claim lines.

A two-party exchange is a transaction where the receiving person — not the delivering person — is liable for fuel tax on removal from a terminal rack. Schedule T is used to report gallons of taxable fuel received or delivered in these exchanges. EasyFile720 includes a guided Schedule T section for diesel, gasoline, kerosene, and aviation gasoline.

Yes. EasyFile720 supports multiple business entities from a single account. CPAs and tax preparers can manage all their clients' Form 720 filings from one dashboard, with separate filings, EINs, and records for each entity.

Yes. EasyFile720 submits returns through IRS-authorized e-file channels for excise taxes, so your Form 720 goes directly to the IRS through an approved channel.