IRS Form 720 Instructions 2026: Your Complete Guide to the Quarterly Federal Excise Tax Return

Form 720 is the Quarterly Federal Excise Tax Return. Businesses use it to report and pay dozens of federal excise taxes — on fuel, air transportation, communications, health plans (the PCORI fee), heavy trucks, tires, sport fishing equipment, indoor tanning, and more — across Part I and Part II of the form.

A federal excise tax is a tax the U.S. government imposes on a specific product, service, or activity — such as fuel, air transportation, heavy trucks, tires, indoor tanning, and certain health plans — rather than on income or sales generally. Businesses report and pay most federal excise taxes quarterly on IRS Form 720, the Quarterly Federal Excise Tax Return.

Anyone liable for, or who collects, a federal excise tax listed in Parts I or II. That includes fuel sellers, airlines, communications providers, self-insured employers (PCORI fee), remittance transfer providers, tire and truck sellers, tanning salons, and others.

Quarterly — generally April 30, July 31, October 31, and January 31, shifting to the next business day on weekends. The PCORI fee is annual, reported on the second-quarter return due July 31.

Schedule A reports net tax liability by semimonthly period; Schedule C is where you claim credits and refunds for nontaxable uses; Schedule T reports two-party exchange information for taxable fuel.

Form 720-V is the payment voucher you include only when you mail a check or money order for a Form 720 balance due. If you pay electronically through EFTPS or pay when you e-file, you do not need Form 720-V. EasyFile720 e-files your return and handles payment electronically, so there is no separate voucher to mail.

The second-quarter (Q2 2026) Form 720, covering April–June 2026, is due July 31, 2026. The annual PCORI fee is also reported on this second-quarter return. For reference, Q1 2026 was due April 30, Q3 2026 is due November 2, 2026 (October 31 falls on a weekend), and Q4 2026 is due February 1, 2027.