Category Archives: PCOI fee online

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Report and Pay your PCORI Taxes through Second Quarter Form 720!

“Like mothers, taxes are often misunderstood, but seldom forgotten” – Lord Bramwell

Month of July comes in with a lot of due dates for Taxes, Once such Important Tax that is due this July is your Federal Excise Tax Form 720. Form 720 is filed after the End of Ever Quarter making it a Quarterly Federal Excise Tax that is filed on sales of certain Products that come under the Excise Tax Category. Though this Tax is Filed Four Times a year, there is one Special category in this Tax Form that is filed only once a year that is along with the Second Quarter Form 720 and that is Patient-Centered Outcomes Research Institute (PCORI). Continue reading Report and Pay your PCORI Taxes through Second Quarter Form 720! →

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Report Excise Tax on PCORI Fee online

The Federal Excise Taxes for 2nd Quarter  (April to June) of 2017 is due this July and July 31. is the last date to report it with the IRS.

The Affordable Care Act (ACA) imposes a fee on health insurance issuers and plan sponsors of self-insured health plans to help fund the Patient-Centered Outcomes Research Institute. The fee, called the Patient Centered Outcomes Research Institute (PCORI) fee, is calculated based on the average number of lives covered under the policy or plan.

PCORI fees applies to policy or plan years ending on or after Oct. 1, 2012, and before Oct. 1, 2019 are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). These fees are due each year by July 31 of the year following the last day of the plan year. This means that, for plan years ending in 2016, the PCORI fees are due by July 31, 2017.  This PCORI fee is based on the average number of lives covered under the policy or plan, can be prepared and reported online with  the IRS at  http://TaxExcise.com an IRS Authorized e-file service provider for all excise tax forms including Form 720, Quarterly Federal Excise Tax return.  Continue reading Report Excise Tax on PCORI Fee online →

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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 →

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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 →