VI 720-B 2009 free printable template

Print Form 720-B (REV. 11/2009) Gross Receipts Annual Tax Return Government of the U. S. Virgin Islands BUREAU OF INTERNAL REVENUE M O N T H (Use for filing receipts of $120,000 or less) 20 GROSS

How to fill out 720 vi 2009 form

How to fill out VI 720-B

1. Start by downloading the VI 720-B form from the official website or obtain a physical copy.
2. Read the instructions carefully to understand the requirements and sections of the form.
3. Fill in your personal information in the designated fields (name, address, etc.).
4. Provide the necessary financial details as required in the form.
5. Review each section to ensure all information is accurate and complete.
6. Attach any required supporting documentation as specified in the form instructions.
7. Sign and date the form at the bottom where indicated.
8. Submit the completed form by mailing it to the appropriate address or filing it online if available.

Who needs VI 720-B?

1. Individuals or entities who are reporting specific financial information as required by the regulations.
2. Tax professionals who are assisting clients with compliance and necessary submissions.
3. Businesses that need to disclose information for regulatory purposes.

People Also Ask about

What is a 720 form for life insurance?

Form 720 (Excise Tax) The Form 720 is used to report the payment of foreign life insurance premiums to the IRS. The Internal Revenue Service charges a 1% excise tax.

What is form 720 and when must it be filed?

IRS Form 720, the Quarterly Federal Excise Tax Return, is a tax form for businesses that sell goods or services subject to excise tax to report and pay those taxes. IRS Form 720 consists of three parts, as well as Schedule A, Schedule T and Schedule C sections and a payment voucher (called Form 720-V).

What is 720 excise tax?

IRS Form 720, Quarterly Excise Tax Return is the quarterly federal excise tax return used to report the excise tax liability and pay the taxes listed on the form. The form includes all items covered by excise taxes. A third party may collect the excise tax, file Form 720, and send the tax to the IRS.

What is tax form 720 for?

Use Form 720 and attachments to: Report liability by IRS number. Pay the excise taxes listed on the form.

How do you know if a company needs to file form 720?

Your business needs to fill out IRS Form 720 if you sell goods or services that incur excise taxes.These products and services can include, but are not limited to: Telephone communications. Air transportation. Gasoline. Passenger ship transportation. Coal. Fishing equipment. Indoor tanning services. Bows and arrows.

Who pays 720 excise tax?

Who files Form 720? Whether you are a manufacturer, retailer, airline or any other business that deals in goods for which excise taxes are due, you have a responsibility to file a Quarterly Federal Excise Tax Return on Form 720 up to four times per year, depending on the circumstances.

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What is VI 720-B?

VI 720-B is a tax form used in the United States Virgin Islands for reporting and paying specific excise taxes.

Who is required to file VI 720-B?

Individuals and businesses that are liable for excise taxes on certain goods and services in the U.S. Virgin Islands are required to file VI 720-B.

How to fill out VI 720-B?

To fill out VI 720-B, taxpayers must provide their general information, detail the types and quantities of goods measured for excise tax, calculate the total tax due, and then submit the completed form to the appropriate tax authority.

What is the purpose of VI 720-B?

The purpose of VI 720-B is to facilitate the reporting and payment of excise taxes on imported and locally manufactured goods.

What information must be reported on VI 720-B?

Taxpayers must report information such as their taxpayer identification number, the description and quantity of goods subject to excise tax, the applicable tax rate, total tax due, and any exemptions claimed.