Greetings from Taxexcise.com, in our previous blog we discussed about the Frequently Asked Questions raised by our Medical Device Excise Tax Filers and here, we are posting the second set of questions for your understanding.
Keep reading to enrich your knowledge about Medical Device Excise tax Continue reading Frequently Asked Questions on Medical Device Excise Tax (Part-II)
The Internal Revenue Service collects taxes every quarter for selling of specific commodities such as gasoline. Besides, there being excise taxes individuals in the U.S have to file city taxes to report their income or property. Although, most individuals and businesses would be aware of the differences between the two tax returns but, those filing either of the taxes for the first need to have a clear understanding of both the taxes to make the filing process smooth. Additionally, e filing is better than paper filing, as this saves time also adding ease. Read below to learn how both the taxes are different. Continue reading Know the Differences between Excise Tax and City Tax
Taxes are the major way for the government to make money. Federal excise taxes are imposed on the purchase and sale of goods such gasoline including truck owners and operators handling the trucking business. If you own a business in the U.S and responsible to file any of the federal excise taxes listed on the Part I or II in IRS form 720, then you must file every quarter and before the time expires. Filing excise tax in the US has an interesting history and reading this blog will provide you an insight into the trend for filing excise tax in the U.S have an interesting history and reading this blog will provide brief insight into the evolution of the Federal excise tax. Continue reading History about Federal Excise Taxes- Known And Unknown
Filing excise tax return is no child’s play and involves several processes starting from understanding to filing the taxes. Excise tax form 720 engages several categories i.e. Part I, Part II, and Schedule A, T, and C. Speaking about the Part II available in IRS form 720, it involves several aspects such as ‘patient centered outcomes research fee’, ‘health insurance policies’, and ‘fishing equipment’. Reading this blog can help in a better understanding of the tax returns involved in the U.S federal excise tax return. Continue reading Explaining Part II in IRS Excise Tax Form 720
After the passage of authorization by Congress, the ‘Patient-Centered Outcomes Research Institute’ conducts several researchers to find out effective ways to prevent, diagnose, and treat diseases. To meet the funds required for doing the researchers, the Congress set up the patient-centered outcomes research fee, which is a part of the other health measures passed under the ‘Patient Protection and Affordable Care Act of 2010’. In this blog, we shall discuss more about the fee imposed by the IRS. Continue reading Know More about The Patient-Centered Outcomes Research Fee