2003 Tax Help Archives  
Instructions for Form 720 2003 Tax Year

Instructions for Form 720 - Notices

This is archived information that pertains only to the 2003 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.


Privacy Act and Paperwork Reduction Act Notice.

We ask for the information on these forms in order to carry out the Internal Revenue laws of the United States. We need it to figure and collect the right amount of tax. Miscellaneous excise taxes are imposed under Subtitle D of the Internal Revenue Code. These forms are used to determine the amount of tax that you owe. Section 6011 requires you to provide the requested information. Section 6109 requires you to provide your taxpayer identification number (TIN). Routine uses of this information include giving it to the Department of Justice for civil and criminal litigation, and cities, states, and the District of Columbia for use in administering their tax laws. We may also disclose this information to Federal and state agencies to enforce Federal nontax criminal laws and to combat terrorism. If you fail to provide this information in a timely manner, you may be liable for 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. Generally, tax returns and return information are confidential, as required by section 6103.

The time needed to complete and file these forms and related schedules will vary depending on individual circumstances. The estimated average times are:

      Learning about Preparing and
Form   Recordkeeping the law or sending the
      the form form to the IRS
720   24 hr., 51 min. 2 hr., 17 min.   6 hr., 23 min.
720-V   1hr., 11 min. — —   1 min.
Sch. A   1 hr., 54 min. — —   1 min.
Sch. C   23 hr., 55 min. 30 min.   54 min.
720X   6 hr., 13 min. 18 min.   24 min.
6197   4 hr., 18 min. 12 min.   16 min.
6627   5 hr., 1 min. 6 min.   10 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making these forms and related schedules 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 forms to this office. Instead, see Where To File on page 1.

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