File Your Domestic Petroleum Oil Spill Tax Online in Minutes with Simple720!
- Easy-to-follow filing steps designed for accuracy and speed
- Eliminate paper forms and submit your return instantly
- Secure, reliable e-filing that meets all IRS compliance requirements
What Is the Domestic Petroleum
Oil Spill Tax(IRS No 18)?
The Domestic Petroleum Oil Spill Tax under Section 4611 is a federal excise tax imposed on domestic crude oil received at a United States refinery. The purpose of this tax is to fund the Oil Spill Liability Trust Fund, which supports cleanup and response efforts related to petroleum oil spills. This tax is part of the environmental excise taxes and is reported as part of quarterly excise tax filings.
- The Domestic Petroleum Oil Spill Tax is reported on Form 720 under environmental taxes and requires Form 6627 for calculation
- The tax is calculated on each barrel of domestic crude oil received at a refinery
- The tax is filed and paid on a quarterly basis
- The applicable tax rate is 0.09 dollars per barrel for periods through December 31 2025 unless extended or reinstated by law
- The tax applies specifically to crude oil and not to refined petroleum products
The responsibility for paying the Domestic Petroleum Oil Spill Tax generally falls on the operator of the United States refinery that receives the domestic crude oil. The liable party must report the tax each quarter using Form 720 and include Form 6627 to calculate the environmental tax amount accurately.
Why Opt for Electronic Filing for Your Domestic
Petroleum Oil spill tax(IRS No 18)?
Steps to Complete Your Domestic Petroleum
Oil spill tax(IRS No 18) Filing with Simple720
- Tax date
- Tax type
- Crude oil received at a U.S. refinery
- Crude oil taxed before receipt at refinery
- Crude oil used in the U.S. before the tax was imposed
Why Choose Simple720 for Filing Your Domestic
Petroleum Oil spill tax(IRS No 18)?
Simple720 Vs Others
| IRS Authorized e-Filer | Brand X | Brand Y | Brand Z | |
|---|---|---|---|---|
| Cloud-Based | Yes | No | No | No |
| Software Download | None | Yes-PC Only | Yes | Yes |
| License | None | Required | Required | Required |
| Annual Contract | No | Required | Required | Required |
| All Excise Taxes | Yes | Fuel Taxes Only | No | No |
| Cost | $59.95/return | $1,000+/yr. | $1,500+/yr. | $5,000+/yr. |
Instant IRS Filing Confirmation
Filing the Domestic Petroleum Oil Spill Tax used to leave us wondering whether the IRS received our return. With Simple720, we get instant acknowledgement, which gives us confidence that everything is submitted correctly and on time.
Simple and Transparent Filing Status Tracking
What we like most about Simple720 is how easy it is to track our filing status. From submission to IRS acceptance, we always know exactly where our Domestic Petroleum Oil Spill Tax return stands.
Budget Friendly and Cost Effective Filing Option
Simple720 has been a cost-effective solution for our Domestic Petroleum Oil Spill Tax filings. The pricing is reasonable, and the time savings alone make it well worth it for our business.
Frequently Asked Questions
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