Advantage of PCORI Filing Online
- Efficiency and Time-Saving Benefits
- Accuracy and Error Reduction
- Convenience and Accessibility
- Enhanced Security Measures
Worrying about your Truck Excise Tax?
- Switch to our Simple 720 Excise Tax Online Portal to Deal with Your Burden.
- Get your IRS-Approved Form 720 done in a Few Minutes!
Truck Excise Tax as per IRS Regulations
- IRS Publication 510 on Excise Taxes says that the Federal Excise Tax (FET) is imposed on the "first retail sale” - the initial sale or use of the truck.
- As per the Internal Revenue Code Section 4051, a 12% of the sale price is imposed as Federal Excise Tax on Heavy Trucks, Trailers and Tractors.
- Truck Chassis and bodies with a gross vehicle weight more than 33,000 pounds are subject to Truck Excise Tax.
Why Simple720??
No Software Download
With Simple 720, there's no need to download any software or applications. You can easily access our platform online and get started by creating a free account. Our step-by-step guidance ensures a smooth and fast eFiling experience, making the process simpler and more efficient for you.
IRS Authorized Provider
As an IRS-Authorized 720 eFile provider, we offer a hassle-free filing experience with user-friendly navigation, making it easy even for newcomers. Your data security is our priority, and using our authorized portal ensures your information is protected.
Affordable Solution
We recognize the financial challenges many face, and we're committed to offering an affordable online filing experience. Our eFiling service for Form 720 is competitively priced, ensuring that you can file within your budget while enjoying the convenience and efficiency of our online portal.
Just 3 Steps to file your Truck Excise Tax Online!
STEP 1
Business Information
Give primary specifics about your business like the name and address, phone number, and Tax ID.
STEP 2
Tax Information
Provide details about your new truck, taxable sales and other related to your Business for a perfect Truck Excise Tax Reporting.
STEP 3
Payment Information
Fill up the payment form with your payment mode of choice and confirm the amount of the fee for the Tan Tax.
Why Truck Excise Tax Filing Online Instead of Paper Filing?
Drawbacks of Paper Filing
- Loss in Transit, Compliance Risks
- Time-Consuming Process
- Increased Risk of Errors
- Delayed Processing
What Our Customers Say?
CEO of a Leading Trucking Companya
As the owner of a trucking company, truck excise tax filing was a major challenge, especially when buying or selling trucks. The traditional pen-and-paper method was cumbersome and time-consuming. Since switching to Simple 720, the process has become much easier and more efficient. It's user-friendly and saves me a lot of time, so now I always use Simple 720 for my tax filings.
A CPA from California
Filing truck taxes manually was a hassle. With Simple 720, the process is much simpler thanks to its easy-to-use Excise Tax Online portal. Their customer service team is always ready to assist, making tax filing much less stressful for me.
A Client from Texas
As a regular individual, handling the truck tax was a significant burden for me. However, with the Simple 720 Online Portal, this burden has been reduced since we only need to pay a small processing fee for filing our truck tax, along with the tax amount itself.
The Best IRS Approved eFile Provider for Filing
Your Truck Excise Tax!
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Form 720 e-Filing
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Frequently Asked Questions
Yes, trucking companies are required to file Form 720, the Quarterly Federal Excise Tax Return, if they sell or use taxable goods and services such as fuel, heavy trucks, and other items listed in Parts I and II of the form. This includes activities like the sale of heavy trucks and trailers, which are subject to federal excise tax. Form 720 must be filed quarterly until a final return is submitted.
Filing your truck excise tax online is a fast, accurate, and efficient method that saves both time and costs. It reduces errors and ensures timely submission. The online process offers convenience with quicker turnaround times, making compliance easier. Embrace the digital method for hassle-free and error-free tax filing.
To calculate the federal excise tax (FET) on a truck, apply a 12% tax on the first retail sale of applicable heavy vehicles per Section 4051 of the Internal Revenue Code. Exemptions apply for trucks, trailers, and tractors with lower gross vehicle weights. Multiply the vehicle's sale price by 12% to determine the FET due. Always refer to the latest IRS guidelines to ensure compliance.
The federal excise tax on trucks helps offset the additional wear and tear caused by heavy vehicles on public roads. The revenue generated supports road maintenance, infrastructure improvements, and highway safety. This tax ensures that those using heavy vehicles contribute to preserving transportation systems. Refer to the IRS for updated guidelines on excise tax allocation.
To file truck excise tax online, use an IRS-approved e-file provider that supports Form 720 filing. Ensure the platform is secure and compliant with IRS regulations for accurate and hassle-free submission. Enter the required tax details, pay the provider’s service fee, and submit the form electronically. Upon successful filing, you will receive confirmation from the IRS.
Begin Your 720 Filing Today by Registering with Simple720
File Federal Excise Tax Online