I agree ... the form 720 is to pay the excise taxes you collected ... https://www.irs.gov/instructions/i720
You must file Form 720 if:
You were liable for, or responsible for collecting, any of the federal excise taxes listed on Form 720, Parts I and II, for a prior quarter and you haven’t filed a final return; or
You are liable for, or responsible for collecting, any of the federal excise taxes listed on Form 720, Parts I and II, for the current quarter.
