Form 720X Amended Quarterly Federal Excise Tax Return

Form 720-X - Amended Quarterly Federal Excise Tax Return

f720x

Form 720-X - Amended Quarterly Federal Excise Tax Return

OMB: 1545-1759

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Form

720-X

Amended Quarterly Federal Excise Tax Return

(Rev. January 2020)
Department of the Treasury
Internal Revenue Service
Name (as shown on Form 720)

Type
or
Print

▶

OMB No. 1545-1759

Go to www.irs.gov/Form720X for the latest information.
▶ Use to correct a previously filed Form 720.

Employer identification number (EIN)

Number, street, and room or suite no. (If you have a P.O. box, see the instructions.)

Telephone number (optional)

City or town, state or province, country, and ZIP or foreign postal code

1

Adjustments to Liability Reported on Previously Filed Forms 720
(a)
Quarter
ending

2

(b)
IRS No.

(c)
Tax

(d)
Tax as originally reported
on Form 720 or as
previously adjusted

(e)
Adjusted tax

(f)
Change
(subtract col. (d)
from col. (e))

(e)
Adjusted credit

(f)
Change
(subtract col. (e)
from col. (d))

Adjustments to Form 720, Schedule C (see instructions for allowable adjustments)
(a)
Quarter
ending

3

(b)
CRN

(c)
Credit

(d)
Credit as originally
reported on Form 720 or
as previously adjusted

Statement in Support of Adjustment. For tax decreases only, indicate below the statement that applies to the adjustment.
a

For IRS Nos. 22, 26, 28, or 27, only collectors using the regular method for deposits check the box below.
The claimant has repaid the amount of the tax to the person from whom it was collected or
has obtained the consent of that person to the allowance of the adjustment.
b For all other IRS Nos. except for 18, 21, 98, 19, 29, 31, 30, 133, 64, 125, 51, 117, and 20, or if
the tax was based on use for 71, 79, 112, 118, 120–124, 61, and 101, check the box below.
The claimant hasn’t included the tax in the price of the article and hasn’t collected the tax
from the purchaser, has repaid the tax to the ultimate purchaser, or has attached the written
consent of the ultimate purchaser to the allowance of the adjustment.
4

Total adjustments. Combine all amounts in column (f) for lines 1 and 2 and enter the amount
here
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
If the result is a balance due, pay the amount with this return. Enclose a check or money order with Form 720-X and make it
payable to “United States Treasury.” Write on the check or money order: “Form 720-X,” your name, address, EIN, and the date
Form 720-X was signed. Complete line 6.
If the result is an overpayment, complete lines 5 and 6.

5

a
b

Check if you want the overpayment:
Refunded to you.
Applied to your next Form 720. Enter quarter ending date. ▶
See Form 720 for how to apply your overpayment.

For Paperwork Reduction Act Notice, see the Instructions for Form 720.

Cat. No. 32661B

Form 720-X (Rev. 1-2020)

Page 2

Form 720-X (Rev. 1-2020)

6

Explanation of adjustments. See the instructions for line 6 for requirements. Attach additional sheets with your name and EIN
if more space is needed.

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is
true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

▲

Sign
Here

Paid
Preparer
Use Only

Date

Signature
Type or print name below signature.
Print/Type preparer’s name

Firm’s name

▶

Firm’s address ▶

Preparer’s signature

Title

Date

Check
if
self-employed

PTIN

Firm’s EIN ▶
Phone no.
Form 720-X (Rev. 1-2020)

Page 3

Form 720-X (Rev. 1-2020)

Section references are to the Internal Revenue Code unless otherwise noted.

Future Developments
For the latest information about developments related to Form 720-X and its
instructions, such as legislation enacted after they were published, go to
www.irs.gov/Form720X.

General Instructions
What’s New
Section 6426 credit extensions and clarification:
• Biodiesel. The biodiesel and renewable diesel mixture credit is
retroactively extended for fuel sold or used in 2018 through 2022.
• Alternative fuel. The alternative fuel credit is retroactively extended for fuel
sold or used in 2018 through 2020.
• Alternative fuel mixtures. The alternative fuel mixture credit is extended
retroactively for fuel sold or used in 2018 through 2020. For claims made on
or after January 8, 2018, “alternative fuel mixture” means a mixture of taxable
fuel and alternative fuel other than liquefied petroleum gas (LPG),
compressed natural gas (CNG), liquefied natural gas (LNG), liquefied gas
derived from biomass, and compressed gas derived from biomass.

Purpose of Form
Use Form 720-X to make adjustments to liability reported on Forms 720 you
have filed for previous quarters. Don’t use Form 720-X to make changes to
claims made on Form 720, Schedule C, except for the section 4051(d) tire
credit and section 6426 credits.
You must include in gross income (income tax return) any
overpayment from line 4 of Form 720-X if you took a deduction
on the income tax return that included the amount of the taxes
CAUTION and that deduction reduced the income tax liability. See Pub.
510, Excise Taxes, for more information.

!
▲

When To File
Generally, adjustments that decrease your tax liability for a prior quarter
must be made within 3 years from the time the return was filed or 2 years
from the time the tax was paid, whichever is later.

Where To File
If you’re filing Form 720-X separately, send Form 720-X to:
Department of the Treasury
Internal Revenue Service
Cincinnati, OH 45999-0009
Otherwise, attach Form 720-X to your next Form 720.

Private delivery services. You can use certain private delivery services
(PDS) designated by the IRS to meet the “timely mailing as timely filing”
rule for tax returns. Go to www.irs.gov/PDS for the current list of
designated services. The PDS can tell you how to get written proof of
the mailing date. For the IRS mailing address to use if you’re using PDS,
go to www.irs.gov/PDSstreetAddresses.

!
▲
CAUTION

Private delivery services can’t deliver items to P.O. boxes. You
must use the U.S. Postal Service to mail any item to an IRS P.O.
box address.

Specific Instructions
P.O. Box. If the post office doesn’t deliver mail to the street address and you
have a P.O. Box, show the box number instead of the street address.
Foreign address. Don’t abbreviate the country name. Follow the country’s
practice for entering the postal code and the name of the province, country,
or state.

Line 1
Report each adjustment separately on line 1. You can use line 6 for your
explanation or you can attach additional sheets with your name and EIN as
needed.
Column (a). Enter the quarter ending date of the Form 720 you’re amending. If
you’re amending more than one quarter, make sure each quarter is clearly
identified. Enter the date in the MMDDYYYY format. For example, if you’re
adjusting the first quarter return for 2020, enter “03312020.”
Column (d). Enter the tax amount for the IRS No. entered in column (b) as
originally reported on Form 720 or as later adjusted by you or the IRS.

Column (e). Enter the adjusted tax liability that should have been reported
for the IRS No. in column (b).
Column (f). If column (e) is greater than column (d), subtract column (d) from
column (e). This is an increase. If column (d) is greater than column (e), subtract
column (e) from column (d). This is a decrease. Show the decrease in parentheses.

Line 2
Section 4051(d) tire credit. You must use line 2 to report any adjustment to
the section 4051(d) tire credit for a prior quarter. For example, if you report
an additional taxable vehicle on line 1 for IRS No. 33, the applicable tire
credit is reported on line 2. Enter CRN 366 in column 2(b). See the
Instructions for Form 720 for more information.
Section 6426 credits. You must use line 2 to report any adjustment to
section 6426 credits, if (a) you’re reporting a change to certain taxable fuel
liability (section 4081 liability in the case of mixtures or section 4041 liability
in the case of alternative fuel) on line 1, or (b) you were unable to claim the
credits against the section 4041 or 4081 liability on a prior Form 720 because
you weren’t registered. Section 6426 credits include the biodiesel or
renewable diesel mixture credit, alternative fuel credit, and alternative fuel
mixture credit. Use a separate line for each adjustment. Enter the CRN from
the table below in column 2(b). You must also complete line 6.
Credit

CRN

Credit Rate

Biodiesel or renewable diesel mixture credit
Biodiesel (other than agri-biodiesel) mixtures

388

1.00

Agri-biodiesel mixtures

390

1.00

Renewable diesel mixtures

307

1.00

Alternative fuel credit and alternative fuel mixture credit
Liquefied petroleum gas (LPG)*

426

.50

“P Series” fuels

427

.50

Compressed natural gas (CNG)*

428

.50

Liquefied hydrogen

429

.50

Any liquid fuel derived from coal (including
peat) through the Fischer-Tropsch process

430

.50

Liquid fuel derived from biomass

431

.50

Liquefied natural gas (LNG)*

432

.50

Liquefied gas derived from biomass*

436

.50

Compressed gas derived from biomass*

437

.50

*See What’s New, under Alternative fuel mixtures for this fuel.

Line 3a
Collectors using the alternative method for deposits must adjust their
separate accounts for any credits or refunds made to customers of the
collector. Form 720-X can’t be used for this purpose. For more information,
see Alternative method in the Instructions for Form 720.

Line 5
If you want your overpayment refunded to you, check the box for line 5a.
If you want your overpayment applied to your next Form 720, check the
box for line 5b and enter the quarter ending date of your next Form 720. You
can file Form 720-X separately or you can attach it to your next Form 720.
Caution. If you checked the box on line 5b, be sure to include the
overpayment amount on lines 6 and 7 on your next Form 720. See Form 720
for details. If you owe other federal tax, interest, or penalty, the overpayment
will first be applied to the unpaid amounts.

Line 6
You can use line 6 for your explanation or you can attach additional sheets
with your name and EIN as needed.
Adjustments on line 1. For each adjustment, you must include a detailed
description of the adjustment and the computation of the amount.
Adjustments on line 2. Any section 6426 credits must first be applied
against your section 4041 or 4081 liability. To make an adjustment, you must
follow the instructions for lines 12, 13, and 14 in the Instructions for Form
720 (Rev. January 2020). For each adjustment you must attach a detailed
explanation of the adjustment, including your registration number, and the
computation of the amount. Your computation must include the number of
gallons (or gasoline gallon equivalents) and credit rate (as shown above). You
must include any information that is requested in the Instructions for Form
720 (Rev. January 2020), for Form 720, lines 12, 13, and 14.

Page 4

Form 720X (Rev. 1-2020)

For example, the Certificate for Biodiesel and, if applicable, Statement of
Biodiesel Reseller must be attached to Form 720-X if it’s the first claim filed
that is supported by the certificate or statement. See the Instructions for
Form 720 (Rev. January 2020) for more information.
Certifications. On line 6 or a separate sheet of paper, you must include the
applicable statement shown below.
Biodiesel mixture credit. Claimant produced a mixture by mixing biodiesel
with diesel fuel. The biodiesel used to produce the mixture met ASTM D6751
and met EPA’s registration requirements for fuels and fuel additives. The
mixture was sold by the claimant to any person for use as a fuel or was used
as a fuel by the claimant. Claimant has attached the Certificate for Biodiesel
and, if applicable, the Statement of Biodiesel Reseller.
Renewable diesel mixture credit. Claimant produced a mixture by mixing
renewable diesel with liquid fuel (other than renewable diesel). The
renewable diesel used to produce the renewable diesel mixture was derived
from biomass, met EPA’s registration requirements for fuels and fuel
additives, and met ASTM D975, D396, or other equivalent standard
approved by the IRS. The mixture was sold by the claimant to any person for
use as a fuel or was used as a fuel by the claimant. Claimant has attached
the Certificate for Biodiesel and, if applicable, Statement of Biodiesel
Reseller, both of which have been edited as discussed in the Instructions for
Form 720 (Rev. January 2020).

Alternative fuel mixture credit. Claimant produced a mixture by mixing
taxable fuel with alternative fuel. Claimant certifies that it (a) produced the
alternative fuel, or (b) has in its possession the name, address, and EIN of
the person(s) that sold the alternative fuel to the claimant; the date of
purchase; and an invoice or other documentation identifying the amount of
the alternative fuel. The claimant also certifies that it made no other claim for
the amount of the alternative fuel, or has repaid the amount to the
government. The alternative fuel mixture was sold by the claimant to any
person for use as a fuel or was used as a fuel by the claimant.

Signature
Form 720-X must be signed by a person authorized by the entity to sign this
return. You must sign Form 720-X even if it’s filed with Form 720 to apply an
overpayment.

Paid Preparer Use Only
A paid preparer must sign Form 720-X and provide the information in the
Paid Preparer Use Only section at the end of the form if the preparer was
paid to prepare the form and isn’t an employee of the filing entity. Paid
preparers must sign paper forms with a manual signature. The preparer must
give you a copy of the form in addition to the copy to be filed with the IRS.
If you’re a paid preparer, enter your Preparer Tax Identification Number
(PTIN) in the space provided. Include your complete address. If you work for
a firm, you also must enter the firm’s name and the EIN of the firm. However,
you can’t use the PTIN of the tax preparation firm in place of your PTIN.
You can apply for a PTIN online or by filing Form W-12, IRS Paid Preparer
Tax Identification Number (PTIN) Application and Renewal. For more
information about applying for a PTIN online, visit the IRS website at
www.irs.gov/PTIN.


File Typeapplication/pdf
File TitleForm 720-X (Rev. January 2020)
SubjectFillable
AuthorSE:W:CAR:MP
File Modified2020-02-20
File Created2020-02-20

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