Form 720X

(Rev. July 2006)

Department of the Treasury

Internal Revenue Service

Amended Quarterly Federal Excise Tax Return OMB No. 1545-1759

Type

or

Print

Name

Number, street, and room or suite no.

City or town, state, and ZIP code

Employer identification number

Telephone number (optional)

( )

Adjustments to Liability Reported on Previously Filed Forms 720

(b)

IRS No.

(c)

Tax

(d)

Tax as originally reported

on Form 720 or as

previously adjusted

(e)

Adjusted tax

(f)

Change

(decrease) or increase

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

6

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.

Signature Date Title

Type or print name below signature.

For Privacy Act and Paperwork Reduction Act Notice, see page 2. Cat. No. 32661B Form 720X (Rev. 7-2006)

4



(a)

Quarter

ending

If the result is a decrease, this is an overpayment. Enter the amount in parentheses and complete lines 5 and 6.

The claimant has not included the tax in the price of the article and has not 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.

Use to correct liability reported on previously filed Forms 720.

1

Adjustments to Section 4051(d) Tire Credit

(b)

CRN

(c)

Credit

(d)

Credit as originally

reported on Form 720 or

as previously adjusted

(e)

Adjusted tire credit

(f)

Change

(decrease) or increase

(a)

Quarter

ending

2

366 Section 4051(d) tire credit

366 Section 4051(d) tire credit

4

b

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

here

a 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, 64, 51, 117, and 20, or if the tax

was based on use for 71, 61, 79, and 101, check the box below.

If the result is an increase, this is a balance due and must be paid with this return. Enclose a check or money order with

Form 720X and make it payable to the “United States Treasury.” Write on the check or money order: “Form 720X,” your name,

address, EIN, and the date Form 720X was signed. Complete line 6.

Check if you want the overpayment:

Refunded to you.

5

a

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

See Form 720 for how to apply your overpayment.

Explanation of adjustments. See the instructions for line 1 for requirements. Attach additional sheets with your name and

EIN if more space is needed.
Form 720X (Rev. 7-2006) Page 2

Privacy Act and Paperwork Reduction Act

Notice

We ask for the information on Form 720X to carry out the Internal

Revenue laws of the United States. Section 6011 requires you to

provide the requested information. Section 6109 requires you to

provide your taxpayer identification number. If you fail to provide this

information in a timely manner, you may be subject to penalties and

interest.

You are not required to provide the information requested on a form

that is subject to the Paperwork Reduction Act unless the form

displays a valid OMB control number. Books or records relating to a

form or its instructions must be retained as long as their contents may

become material in the administration of any Internal Revenue law.

General Instructions

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.

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 the Internal

Revenue Service Center, Cincinnati, OH 45999-0009. Otherwise,

attach Form 720X to your next Form 720.

Specific Instructions

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. You must include the following information on line

6 for each adjustment.

1. A detailed description of the adjustment.

2. The computation of the amount.

Column (a)

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

You must use line 2 to report any adjustments 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. See the Instructions for Form 720 for more

information on the tire credit.

Line 5

If you want your overpayment refunded to you, check the box for

line 5a.

Signature

Form 720X must be signed by a person authorized by the entity to

sign this return. You must sign Form 720X even if it is filed with Form

720 to apply an overpayment.

Section references are to the Internal Revenue Code unless otherwise

noted.

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 2006, enter

“03312006.”

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.

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: 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 Publication 510 for

more information.

Generally, tax returns and return information are confidential, as

required by section 6103. However, section 6103 allows or requires

the Internal Revenue Service to disclose or give the information shown

on your tax return to others described in the Code. For example, we

may disclose your tax information to the Department of Justice for

civil and criminal litigation, and to cities, states, and the District of

Columbia for use in administering their tax laws. We may also disclose

this information to other countries under a tax treaty, to federal and

state agencies to enforce federal nontax criminal laws, or to federal

law enforcement agencies and intelligence agencies to combat

terrorism.

Communications excise tax, toll telephone service. Collectors must

stop collecting and paying over the tax on nontaxable service that is

billed after July 31, 2006. Nontaxable service means bundled service

and long distance service. Collectors using the regular method for

deposits must use Form 720X to claim a credit or refund for

nontaxable service if the collector has repaid the tax to the person

from whom the tax was collected, or obtained the consent of that

person to the allowance of the credit or refund. The refund period is

for nontaxable service that was billed after February 28, 2003, and

before August 1, 2006. Collectors using the alternative method for

deposits must adjust their separate account. For more information,

see the Instructions for Form 720 and Notice 2006-50 (available on

page 1141 of Internal Revenue Bulletin 2006-25).

The above paragraph applies to nontaxable service billed to

customers of the collector. All Form 720 taxpayers, including

collectors, must request a credit or refund on their 2006 federal

income tax return for nontaxable service paid by the taxpayer.

Line 3a

Collectors using the alternative method for deposits must adjust their

separate account 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 on page 8 in the Instructions for

Form 720.

The time needed to complete and file Form 720X will vary

depending on individual circumstances. The estimated average time

is:

Recordkeeping 6 hr., 13 min.

Learning about the law or the form 18 min.

Preparing, copying, and sending

the form to the IRS 24 min.

If you have comments concerning the accuracy of these time

estimates or suggestions for making Form 720X simpler, we would be

happy to hear from you. You can write to the Internal Revenue

Service, Tax Products Coordinating Committee,

SE:W:CAR:MP:T:T:SP, 1111 Constitution Ave. NW, IR-6406,

Washington, DC 20224. Do not send the tax form to this address.

Instead, see Where To File above.