Form 720 June 2026 Revision: Complete Guide to What Changed
In this guide
TL;DR — what changed in 30 seconds
1. NEW: IRS No. 155 — Remittance transfer tax
The headline change. The One Big Beautiful Bill Act of 2025 created Internal Revenue Code §4475 — a 1% federal excise tax on certain remittance transfers. The IRS added a new line to Form 720 Part I to collect it: IRS No. 155.
Key facts
- Rate: 1% of the gross remittance amount
- Effective: Transfers occurring after December 31, 2025
- Applies when: The sender funds the transfer with cash, money order, cashier's check, or similar physical instrument
- Who collects: Remittance transfer providers (money transfer operators, MSBs, banks accepting cash for international wires)
- First semimonthly deposit due: January 29, 2026
- Penalty relief: Limited relief for Q1–Q3 2026 deposits — see IRS.gov/RemittanceTaxPenaltyRelief
The tax is structured as a Part I item, which means it follows the standard semimonthly EFTPS deposit cadence if your net liability exceeds $2,500 for the quarter. Schedule A captures your semimonthly liability profile alongside any other Part I taxes you collect.
Bank-account-funded and card-funded transfers are generally outside scope. The precise contours are set by §4475 and IRS guidance — get counsel review on edge cases for your specific products.
Read more: Our complete IRS No. 155 filing guide →
2. EXPIRED: Oil spill liability taxes (IRS Nos. 18 and 21)
The Section 4611 tax on crude oil received (the domestic petroleum oil spill tax, IRS No. 18) and on petroleum products entered (the imported petroleum oil spill tax, IRS No. 21) expired after December 31, 2025. On the new form, both line numbers now read "Reserved for future use."
If Congress extends the taxes later in 2026, the IRS will issue updated guidance and potentially reactivate the lines. Until then, do not enter any amounts under IRS No. 18 or IRS No. 21 on your Form 720 filings.
Filers who continued reporting on these lines in error during early 2026 should review their submissions and consider amending via Form 720-X.
3. 2026 inflation-adjusted rates
Three Form 720 rates received their annual inflation bump:
| Tax | IRS No. | 2025 Rate | 2026 Rate |
|---|---|---|---|
| Domestic air segment | 26 | $5.20 | $5.30 |
| International air travel facilities | 27 | $22.90 | $23.40 |
| Alaska/Hawaii departures (under IRS No. 27) | 27 | $11.40 | $11.70 |
| Arrow shafts (per shaft) | 106 | $0.63 | $0.65 |
The PCOR fee for IRS No. 133 increases to $3.84 per covered life for plan years ending October 1, 2025 – September 30, 2026 (IRS Notice 2025-61), up from $3.47. The $3.47 rate continues to apply to plan years ending October 1, 2024 – September 30, 2025.
Per-gallon fuel rates (diesel $0.244, gasoline $0.184, aviation gasoline $0.194, commercial aviation kerosene $0.044, etc.) are unchanged for 2026.
4. TERMINATED: SAF mixture credit (Schedule C line 12d)
The Sustainable Aviation Fuel mixture credit under IRC §6426(k)terminated after September 30, 2025. The Schedule C line 12d that captured this credit on the 2024 form is now reserved for future use on the June 2026 revision.
Filers who claimed the SAF mixture credit on prior-year filings should ensure no further claims are made for periods after September 30, 2025. The §40B SAF producer tax credit (a different incentive) operates under separate rules — consult guidance specific to your fact pattern.
5. NEW: Direct-deposit refund option (Part III, lines 11b–11e)
The June 2026 form adds direct-deposit refund support on Part III. If you have an overpayment and prefer it returned to your bank account rather than applied to the next quarter's return, you can now provide routing and account information directly on the form (lines 11b–11e). This is a quality-of-life improvement that many filers had been asking for since paper-check refund delays became common.
6. What stayed the same
- Quarterly filing cadence. Q1 due April 30, Q2 due July 31, Q3 due October 31, Q4 due January 31.
- $2,500 deposit threshold. Semimonthly EFTPS deposits required if Part I net liability exceeds $2,500 for the quarter.
- PCOR fee structure. Lines 133(a)–(d) continue to track the same plan-year-end rate buckets.
- Form 8849 Schedules. The schedule structure for refund claims (1, 2, 3, 5, 6, 8) remains unchanged.
- Schedule A, C, T. All three schedules retain their previous structure aside from the line 12d reservation discussed above.
- Per-gallon fuel rates. Diesel, gasoline, kerosene, aviation, CNG, LNG — unchanged.
7. What you should do as a filer
If you're a remittance transfer provider: stand up tax collection at the point of sale immediately. The first semimonthly deposit was due January 29, 2026; subsequent deposits follow the standard 14-day cadence. Take advantage of the Q1–Q3 2026 penalty relief but do not skip the underlying deposits — relief covers penalties, not the tax itself.
If you previously filed under IRS Nos. 18 or 21: stop. Do not enter amounts on these lines for any period after December 31, 2025. If Congress reauthorizes, the IRS will publish updated guidance.
If you file IRS Nos. 26, 27, or 106: update your billing systems with the new 2026 rates ($5.30 segment, $23.40 international / $11.70 AK-HI, $0.65 per arrow shaft). EasyFile720's calculation engine already reflects these.
If you claimed the SAF mixture credit on previous filings: ensure no further claims are filed on Schedule C line 12d for periods after September 30, 2025.
If you typically receive Form 720 refunds: consider switching to direct-deposit on lines 11b–11e for faster receipt.
File your June 2026 Form 720 with EasyFile720
Our platform reflects the June 2026 revision, including IRS No. 155 remittance transfer tax, retired oil spill lines, 2026 inflation-adjusted rates, and the SAF credit termination. IRS-authorized e-file with auto-calculated rates.
This article reflects the IRS Form 720 June 2026 revision and Instructions for Form 720 (Rev. June 2026). It is general information and not tax advice. Consult a qualified tax professional for guidance specific to your facts and circumstances.
