Quarterly Excise Taxes Too Tedious? IRS Wants Your Two Cents
Published Date: 11/19/2025
Notice
Summary
The IRS wants your thoughts on how much time and effort it takes to fill out the quarterly federal excise tax returns. If you or your business deal with these taxes, now’s the time to speak up before January 20, 2026. This helps the IRS make the process easier and less costly for everyone involved.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
New Form 720 Line for Transfer Tax
If you or your business file quarterly federal excise returns (Form 720), a new Transfer Remittance Tax created by the One Big Beautiful Bill (Pub. L. 119-21 sec. 70604) under IRC 4475 must be reported using IRS No. 155. Form 720 will be changed to add a new line in Part I on page 2 for IRS No. 155, and the IRS estimates this change will increase filing burden by 359,408 hours across an estimated 181,300 respondents (estimated time per respondent 16 hours, 10 minutes; total annual burden hours 3,105,408).
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