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Form 720, officially called the Quarterly Federal Excise Tax Return, is used to report and pay certain federal excise taxes. These taxes apply to specific products, services, and activities rather than general business income. Examples include certain fuel transactions, air transportation, indoor tanning services, and the first retail sale of qualifying heavy trucks. The form also covers certain health plan fees, including the Patient-Centered Outcomes Research Institute (PCORI) fee.
Businesses identify each applicable tax by its IRS number and complete the required sections and schedules. Most filers report quarterly, although special reporting rules apply to certain liabilities.
Form 720 does not replace your business income tax return, and operating a business does not automatically mean you must file this particular tax return.
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General information verified against current IRS instructions and publications, not tax or legal advice. Excise tax rules change — confirm with the IRS or a qualified professional before acting. Last reviewed 2026-11-08.