Tag Archives: efile form 720

Form720 for 2nd quarter of 2021 & 2020 PCORI Fee due TODAY, there are just a few hours left until the deadline to e-file.

The Patient-Centered Outcomes Research Institute (PCORI) fee was introduced as part of the Affordable Care Act (ACA) for the sole purpose of funding medical research. Under the Affordable Care Act, issuers of specified health insurance policies and self-insured health plans are required to pay a fee to help with funding the Patient-Centered Outcomes Research Institute (PCORI). This fee is calculated based on the average number of lives covered and must be reported once a year after the second quarter (April, May & June) ends before July 31st (or the following business day if July 31 falls on a Saturday, Sunday or legal holiday).

Continue reading Form720 for 2nd quarter of 2021 & 2020 PCORI Fee due TODAY, there are just a few hours left until the deadline to e-file.

Relief for Taxpayers Affected by Ongoing Coronavirus Disease Pandemic, Related to Sport Fishing Equipment and Bows and Arrows Excise Tax Filing and Payment Deadlines

As per the IRS Notice 2020-48, There are certain relief for excise taxpayers report and pay the excise taxes on sport fishing equipment, bows and arrows etc. filing deadline has been extended further. The Form 720 due on July 31, 2020, covers the second calendar quarter (April, May, June) of the year 2020. Refer to the notice here.

Any person (as defined in section 7701(a)(1) of the Code) with a federal sporting goods excise tax payment due and the requirement to file a return under the sport fishing and archery equipment on July 31, 2020, is determined to be affected by the COVID-19 emergency for purposes the July 31, 2020, due date for filing Form 720 for the sport fishing and archery equipment numbers and making corresponding federal sporting goods excise tax payments is automatically postponed to October 31, 2020. This relief is automatic. Affected Taxpayers do not have to call the IRS, file any extension forms, or send letters or other documents to receive this relief. An Affected Taxpayer may file a Form 720 for excise taxes and pay the corresponding excise taxes on sport fishing and archery equipment by the normal due date (July 31, 2020) if the Affected Taxpayer so chooses. An Affected Taxpayer who takes advantage of this postponement should file only one Form 720 for the sport fishing and archery equipment numbers by the postponed deadline of October 31, 2020, on an IRS Number line if the taxpayer has excise tax liability for the tax corresponding to that Number and this Notice postpones the payment of that tax (in other words, avoid duplicate filings).

Continue reading Relief for Taxpayers Affected by Ongoing Coronavirus Disease Pandemic, Related to Sport Fishing Equipment and Bows and Arrows Excise Tax Filing and Payment Deadlines

Less Than 24 hours remaining to File These Tax Forms!

May we have your attention please, Less than 24 hours in hand to File Three Tax Form that are due TODAY April 30th 2019. Being an IRS Authorized E-file Service Provider it becomes our responsibility to remind Every Tax Payer about upcoming tax Deadlines for the month and where to get it done with ease.

Taxes that are Due Today: Continue reading Less Than 24 hours remaining to File These Tax Forms!

Tuesday April 30th: Due Date to File Three Taxes!

Time and Tide waits for none! Very old saying but suits every situation especially when it comes to Taxes. April is not only the Month to file and Pay your Personal Income taxes but has few other deadlines as well. Continue reading Tuesday April 30th: Due Date to File Three Taxes!

Form 720, Quarterly Excise Tax Return for 1st Quarter of 2019 is due NOW!

Form 720 is a quarterly excise tax return that some; businesses must file with the Internal Revenue Service. According to the IRS, “Excise taxes are taxes paid when purchases are made on a specific goods, such as gasoline. Excise taxes are often included in the price of the product” If you accrue excise taxes in the course of doing business, you should know the rules on filing 720 taxes.

Who Must File Continue reading Form 720, Quarterly Excise Tax Return for 1st Quarter of 2019 is due NOW!