Form 720X (Rev. 3-2013)
Section references are to the Internal Revenue Code unless otherwise noted.
For the latest information about developments related to Form 720X and its
instructions, such as legislation enacted after they were published, go to
Alternative fuel mixture credit allowed only to the extent of taxable fuel
liability. For alternative fuel mixtures produced after December 31, 2011, the
alternative fuel mixture credit is allowed only to the extent of your taxable fuel
liability. For more information see the Instructions for Form 720 (Revised
Expiration of alcohol fuel mixture credit. The alcohol fuel mixture credit
expired after December 31, 2011.
Purpose of Form
Use Form 720X to make adjustments to liability reported on Forms 720 you
have filed for previous quarters. Do not use Form 720X to make changes to
claims made on Schedule C (Form 720), 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 720X 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 are filing Form 720X separately, send Form 720X to:
Department of the Treasury
Internal Revenue Service
Cincinnati, OH 45999-0009
Otherwise, attach Form 720X to your next Form 720.
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
Column (a). Enter the quarter ending date of the Form 720 you are
amending. If you are amending more than one quarter, make sure each
quarter is clearly identified. Enter the date in the MMDDYYYY format. For
example, if you are adjusting the first quarter return for 2013, enter
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
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 on the tire credit.
Section 6426 credits. You must use line 2 to report any adjustment to
section 6426 credits, if (a) you are 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 were not registered. Section 6426 credits include the alcohol fuel mixture
credit (for mixtures produced, and sold, used, or removed, on or before
December 31, 2011), 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
Alcohol fuel mixture credit*
Alcohol fuel mixtures containing ethanol* 393 $ .45
Alcohol fuel mixtures containing alcohol
(other than ethanol)*
Biodiesel or renewable diesel mixture credit
Biodiesel (other than agri-biodiesel)
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
Compressed natural gas (CNG)
Any liquid fuel derived from coal (including
peat) through the Fischer-Tropsch process
Liquid fuel derived from biomass
Liquefied natural gas (LNG) 432 .50
Liquefied gas derived from biomass 436 .50
Compressed gas derived from biomass 437 .50
*For mixtures produced, and sold, used, or removed, on or before December
Collectors using the alternative method for deposits must adjust their
separate accounts for any credits or refunds made to customers of the
collector. Form 720X cannot be used for this purpose. For more information,
see Alternative method in the Instructions for Form 720.
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 720X 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.
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 2011). 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 for compressed gas) and credit rate