Form 720-X - Amended
Quarterly Federal Excise Tax Return
Extension without change of a currently approved collection
36 Months From Approved
Form 720X is used to make adjustments
to correct tax liabilities on Form 720 filed for previous quarters.
It can be filed by itself or it can be attached to any subsequent
Form 720. Code section 6416(f) allows taxpayers to take a credit on
a subsequent return rather than filing a refund claim. Creation of
Form 720X is the result of a project to provide a uniform standard
for trust fund accounting.
USC 6416 Name of Law: Certain taxes on sales and services