Form 720X

(Rev. January 2003)

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. 1-2003)

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, 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 98, 19, 29, 31, 30, 64, 51, and 20, or if the tax was based

on use for 71, 61, 78, 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. 1-2003) Page 2

Privacy Act and Paperwork Reduction Act

Notice

We ask for the information on this form 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. Routine uses of tax information include giving it

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. If you fail

to provide this information in a timely manner, you may be

subject to penalties and interest. We may also disclose

this information to Federal and state agencies to enforce

Federal nontax criminal laws and to combat terrorism.

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. Generally, tax returns and return information

are confidential, as required by section 6103.

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 this form

simpler, we would be happy to hear from you. You can

write to the Tax Forms Committee, Western Area

Distribution Center, Rancho Cordova, CA 95743-0001. Do

not send the tax form to this address. Instead, see Where

To File above.

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

Send Form 720X to the Internal Revenue Service Center,

Cincinnati, OH 45999-0009.

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:

● A detailed description of the adjustment and

● 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 2003, enter

“03312003.”

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 Pub. 378 for more information.