Pay taxes online for Form 720: Approved methods

Paying the balance due with your quarterly Form 720 does not have to be complicated. The IRS offers several approved ways to pay taxes online, and choosing the right one can help you avoid penalties and last‑minute stress. Below, we outline the IRS‑approved electronic methods, when to use each, and how to make sure your payment matches your e‑filed return.

IRS‑approved ways to pay Form 720 online

For Form 720, the IRS recognizes the following electronic payment options:

• EFTPS, the Electronic Federal Tax Payment System (ACH debit or ACH credit)
• Electronic Funds Withdrawal, when you e‑file an eligible return
• Same‑Day Wire, initiated through your bank

Each method sends money directly to the U.S. Treasury and, when set up correctly, automatically associates your payment with your EIN, form number, and quarter.

Quick comparison of approved electronic methods

Method	How it works	Setup time	Key cutoff	Fees	Best for
EFTPS, ACH debit	You log in to EFTPS, schedule a debit from your U.S. bank account	Enroll in advance, allow time to receive PIN by mail	Schedule by 8 p.m. Eastern, at least 1 day before the payment date	No IRS fee	Routine quarterly payments and deposits
EFTPS, ACH credit	Your bank originates the payment to Treasury using your EFTPS profile	Work with your bank, lead time varies	Bank’s ACH cutoff applies	Your bank may charge a fee	Businesses that prefer sending payments through their bank
Electronic Funds Withdrawal, EFW	Authorize a one‑time debit while e‑filing an eligible return	No separate enrollment	Scheduled with the return submission	No IRS fee	One‑and‑done payment at the moment of e‑file
Same‑Day Wire	Your bank sends a Fedwire same‑day transfer to Treasury using IRS wire instructions	No enrollment, but bank setup may be needed	Your bank’s same‑day wire cutoff	Bank fees apply	Last‑minute payments when EFTPS cutoff is missed

Sources: IRS guidance for EFTPS, Electronic Funds Withdrawal, and Same‑Day Wire.

Method 1, Pay with EFTPS (ACH debit)

EFTPS is the IRS’s primary system for electronic business tax payments. Once you are enrolled, you can schedule a debit directly from your business bank account and receive a confirmation immediately.

1. Enroll in EFTPS if you are new. Enrollment can take several business days because the IRS mails a PIN to your business address on file.
2. Log in at EFTPS and choose Make a Payment.
3. Select Form 720, choose Payment Type Return, and pick the correct Tax Period End Date for the quarter.
4. Enter the amount, select the payment date, and confirm. To settle on the due date, schedule by 8 p.m. Eastern at least one calendar day prior.
5. Save the EFTPS confirmation number for your records.

Tip, Verify the EIN, business name, form number, and period end date match your filed return. That is what the IRS uses to post the payment to the right account.

Method 2, Electronic Funds Withdrawal when you e‑file

Electronic Funds Withdrawal lets you authorize a one‑time debit from a U.S. bank account during the e‑filing process. The charge is initiated by the IRS based on details you provide when you transmit the return.

• Availability varies by form and provider, and it is only offered at the time you e‑file an eligible return. Confirm availability in your software before you rely on this method.
• You can generally choose the withdrawal date on or before the due date.
• Keep the transmission and payment authorization acknowledgments in your records.

Learn more on the IRS page for Electronic Funds Withdrawal.

Method 3, Same‑Day Wire through your bank

If you missed the EFTPS scheduling cutoff or you prefer a bank wire, you can send a same‑day payment to the U.S. Treasury.

• Contact your bank early on the payment date to ensure you meet its wire cutoff time.
• Use the instructions and worksheet on the IRS page for Same‑Day Wire Federal Tax Payments. Your bank will need your EIN, tax form, period, and the appropriate tax type code.
• Bank fees usually apply. Keep your bank’s wire confirmation and reconcile it when the payment posts to your IRS account.

What about paying by card or digital wallet

The IRS partners with third‑party processors for some tax types. For excise taxes on Form 720, card payments are generally not offered. If you are considering this route, check the current IRS list of eligible forms before proceeding, since eligibility can change, see Pay by Card or Digital Wallet.

Deposits vs. paying with the return

Form 720 covers many excise taxes. Some of these taxes require semimonthly deposits, while others can be paid with the quarterly return. If deposits apply to your business, you must use EFTPS for those deposits. The quarterly return then reconciles deposit activity with your total liability.

Because rules differ by tax type, consult the official Instructions for Form 720 for deposit requirements and thresholds that may allow you to pay with the return rather than making deposits during the quarter.

Quarterly due dates and timing tips

Form 720 is due on the last day of the month after each quarter ends. For example,

• Quarter ending March 31, due April 30
• Quarter ending June 30, due July 31
• Quarter ending September 30, due October 31
• Quarter ending December 31, due January 31

To be on time with EFTPS, schedule by 8 p.m. Eastern at least one day before the due date. If you are too close to the deadline to meet that cutoff, use a same‑day wire. See the IRS overview at About Form 720.

Matching your payment to your e‑filed Form 720

Accuracy in the following fields ensures your payment posts correctly:

• EIN and business name exactly as registered with the IRS
• Form number, choose Form 720
• Payment type, Return for a quarterly balance due, Deposit if making required semimonthly deposits
• Tax period end date for the quarter

Keep your EFTPS or bank wire confirmation. You do not need to include your e‑file submission ID when you pay, the IRS matches using the identifiers above.

Common mistakes to avoid

• Selecting the wrong tax period end date for the quarter
• Scheduling an EFTPS payment after the 8 p.m. Eastern cutoff for next‑day settlement
• Using a foreign bank account for ACH debit or EFW, these methods require a U.S. financial institution
• Paying by check when you intended to pay online, which can delay posting

If you overpaid, you may be able to apply the overpayment to the next quarter or request a refund using Form 8849. If you underpaid, pay as soon as possible to limit interest and penalties, then file an amended return, Form 720‑X, if needed.

Step‑by‑step example, EFTPS payment for a quarterly return

1. Log in to EFTPS.
2. Choose Make a Payment, then Excise Tax Form 720.
3. Select Payment Type Return.
4. Pick the quarter’s Tax Period End Date, for example 06‑30‑2025.
5. Enter the Amount.
6. Choose the Payment Date, at least one day ahead of the due date if you are making the cutoff.
7. Review, submit, and save the confirmation number.

FAQs

Can I pay Form 720 online without using EFTPS? Yes, you can authorize an Electronic Funds Withdrawal when you e‑file an eligible return, or you can send a Same‑Day Wire through your bank. EFTPS remains the standard method for most businesses.

What time do I need to schedule an EFTPS payment? Schedule by 8 p.m. Eastern at least one calendar day before the date you want the payment to settle. If you miss that, use a same‑day wire.

Which tax period end date should I choose in EFTPS? Use the last day of the quarter you are filing, for example 03‑31, 06‑30, 09‑30, or 12‑31 of the applicable year.

Can I pay Form 720 with a credit card? Card payments are generally not available for Form 720. Check the IRS page for card payments to confirm current eligibility.

How long does EFTPS enrollment take? Enrollment requires a PIN that is mailed to your address on file, so start at least a week before you need to make your first payment.

What if I owe additional tax after filing? Pay the additional amount through EFTPS or a same‑day wire, then file Form 720‑X if an amended return is required. For refunds of certain excise taxes, see Form 8849.

---

Ready to file your Form 720 the fast, secure way? eFileExcise720 is an IRS‑authorized e‑filing platform built for federal excise tax returns. Create your free account, navigate a simple dashboard, and file confidently across all Form 720 categories. After you e‑file, complete your payment using your preferred IRS‑approved method, EFTPS, Electronic Funds Withdrawal when supported, or a same‑day wire through your bank. Start filing today at eFileExcise720.