Missed your 2nd Quarter Reporting Deadline for Form 720?
The federal excise tax reporting for the 2nd quarter of 2019 os July 31 and if you have missed it, don't wait further file it at the earliest to avoid and minimize the charges you may get as penalty and interest. If you owe taxes on top of the monthly deposits made and that has to be paid on or before July 31. Essentially, Form 720 needs to be completed by the last day of the first month that follows the end of the prior quarter (e.g. the second quarter ends on June 30, so the form is due by July 31). If the due date for filing Form 720 falls on a Saturday, Sunday, or legal holiday, you can file the return by the next business day. This month it falls on a week day so no buying time here. Who must file Form 720? You must file Form 720 if you were liable for, or responsible for collecting, any of the federal excise taxes listed on Form 720, Parts I and II, for a prior quarter or for the current quarter and you haven’t filed a final return. In other words, if you own a ...