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).
Tag Archives: Second Quarter 720
It’s July! E-file Your Second Quarter Federal Excise Tax Form 720
“What’s the difference between a tax auditor and a Rottweiler? A Rottweiler eventually lets go”
Dear Excise Tax Payers, It’s a big hello form the ONLY IRS AUTHORIZED E-FILE SERVICE PROVIDER FOR FORM 720. To help all those Excise Tax payers out there to E-file their Form 720 is a great power, but “With great power comes great responsibility”. Yes! As an IRS Authorized E-file service provider it is our responsibility to remind you all about the upcoming deadline. Continue reading It’s July! E-file Your Second Quarter Federal Excise Tax Form 720
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!
Federal Excise Tax Form 720 for the Second Quarter of 2018 is DUE NOW!
Memory is the treasury and guardian of all things – Marcus Tullius Cicero
There are several things that we do for which we rely on our memory. Though we remember almost everything that we do on a daily basis, there are quite a few things that we do only once in a month sometimes once in three months which tends to slip out of our memory. By now if you still have not figured out what we are mentioning then you have a poor memory.
Form 720:
Form 720 is a quarterly Tax, one must file it four times a year, Right now it’s time to E-file your Federal Excise tax Form 720 for the Second quarter of 2018, which is due by the end of this month. Form 720 PCORI Excise Tax Filers please note that you file PCORI Taxes only once a year and that is with the Second Quarter Form 720. Continue reading Federal Excise Tax Form 720 for the Second Quarter of 2018 is DUE NOW!