Fill - Free fillable Form 720-X Amended Quarterly Federal Excise Tax Return 2020 PDF form

Form 720-X

(Rev. January 2020)

Department of the Treasury

Internal Revenue Service

Amended Quarterly Federal Excise Tax Return

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Go to www.irs.gov/Form720X for the latest information.

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Use to correct a previously filed Form 720.

OMB No. 1545-1759

Type

Name (as shown on Form 720)

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

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

Employer identification number (EIN)

Telephone number (optional)

1 Adjustments to Liability Reported on Previously Filed Forms 720

(a)

Quarter

ending

(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))

2 Adjustments to Form 720, Schedule C (see instructions for allowable adjustments)

(a)

Quarter

ending

(b)

CRN

(c)

Credit

(d)

Credit as originally

reported on Form 720 or

as previously adjusted

(e)

Adjusted credit

(f)

Change

(subtract col. (e)

from col. (d))

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

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.

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.

Total adjustments. Combine all amounts in column (f) for lines 1 and 2 and enter the amount

here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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 Check if you want the overpayment:

Refunded to you.

Applied to your next Form 720. Enter quarter ending date.

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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

Explanation of adjustments. See the instructions for line 6 for requirements. Attach additional sheets with your name and EIN

if more space is needed.

Sign

Here

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.

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Signature

Type or print name below signature.

Date

Title

Paid

Preparer

Use Only

Print/Type preparer’s name Preparer’s signature Date

Check if

self-employed

PTIN

Firm’s name

▶

Firm’s address

▶

Firm’s EIN ▶

Phone no.

Form 720-X (Rev. 1-2020)

Page 3

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.

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CAUTION

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

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.

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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.

Form 720X (Rev. 1-2020)

Page 4

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.

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