Tag Archives: Form 720 PCORI fee

Excise Tax Forms 720, 2290 and IFTA Taxes are Due this July

It’s July, and tax time for Excise Tax Filers. By this time last year, you may have had already prepared and ready to report your Form 720 and Form 2290 Tax Returns electronically. This is same time of the year and a gentle reminder for you to file your Federal Excise Tax Returns. E-filing is simple, easy and convenient as you would have experienced in last year. TaxExcise.com has now made it more easier, simpler and faster… give it  a try for free and pay only when you opt  to file or print.

Quarterly Federal Excise Tax Form 720 is Due

The 2nd quarter FET, is due now and has to be reported with the IRS by July 31. Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks. One of the major components of the excise program is motor fuel.

The indoor tanning service provider must file this Indoor Tanning Excise Taxes on indoor tanning service employing any electronic product by July 31. Continue reading Excise Tax Forms 720, 2290 and IFTA Taxes are Due this July

Patient Center Outcome Research Institution (PCORI) Fee Online

The Affordable Care Act imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund the Patient-Centered Outcomes Research Institute. The fee, required to be reported only once a year on the second quarter Form 720 and paid by its due date, July 31, is based on the average number of lives covered under the policy or plan.

The fee applies to policy or plan years ending on or after Oct. 1, 2012, and before Oct. 1, 2019. The Patient-Centered Outcomes Research Institute fee is filed using Form 720, Quarterly Federal Excise Tax Return. Although Form 720 is a quarterly return, for PCORI, Form 720 is filed annually only, by July 31. Continue reading Patient Center Outcome Research Institution (PCORI) Fee Online

Patient-Centered Outcomes Research Trust Fund Fee

The Patient-Centered Outcomes Research Trust Fund fee is a fee on taxexciseissuers of specified health insurance policies and plan sponsors of applicable self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute (PCORI). The institute will assist, through research, patients, clinicians, purchasers and policy-makers, in making informed health decisions by advancing the quality and relevance of evidence-based medicine. The institute will compile and distribute comparative clinical effectiveness research findings.

The Affordable Care Act added a patient-centered outcomes research (PCOR) fee on health plans to support clinical effectiveness research. The PCOR fee applies to plan years ending on or after Oct. 1, 2012, and before Oct. 1, 2019. The PCOR fee is due by July 31 of the calendar year following the close of the plan year. For plan years ending in 2015, the fee is due by July 31, 2016.  Continue reading Patient-Centered Outcomes Research Trust Fund Fee