- Glossary Article
What is Form 720-TO - Terminal Operator Report?
Form 720-TO, the Terminal Operator Report, is an IRS form that terminal operators use to report the removal of taxable fuel from a terminal rack. It details the type and quantity of fuel removed, the date of removal, and the destination of the fuel. This information is crucial for calculating and collecting federal excise taxes on fuels.
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No Credit Hit
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