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720 Quarterly Federal Excise Tax Return
Reminder: Before you can claim a credit on Form 8849, the alcohol fuel mixture and biodiesel mixture credit must be taken against any taxable fuel liability on Form 720. Any credit in excess of 720 liability can be taken in the form of a refund on the Form 8849 or as an income tax credit on Form 4136. Parts I and II of the Form 720 are used for reporting tax liability; Schedule C of Form 720 is used for claims in excess of that liability.
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