Form 720 is required to be filed by businesses that deal in the sale or manufacture of specific goods and services subject to federal excise taxes. This includes, but is not limited to, businesses involved in the sale of fuel, airline tickets, tobacco, and indoor tanning services. It is also required from those who receive payments for patient services under certain health insurance policies. Businesses should review the IRS guidelines to determine if their operations result in excise tax liabilities that necessitate filing Form 720.