Certified Payroll Professional Practice Exam 2026 – Your All-in-One Guide to Exam Success

Employers must submit Form 720, the Quarterly Federal Excise Tax Return, on a quarterly basis. This means filing the form four times a year, adhering to specific deadlines that are determined by the calendar year. The quarterly filing schedule allows the IRS to collect excise taxes more regularly and helps employers stay compliant with their tax obligations throughout the year. Each quarter's submission is due on the last day of the month following the end of the quarter, which emphasizes the requirement for regular reporting and payment of these taxes.

This structure ensures that taxes are calculated and reported consistently, aligning with the financial practices of many businesses. The other options do not reflect the correct frequency, as annually, weekly, or monthly submissions would not comply with the established requirements for Form 720.