This could of easily addressed multiple questions recently re: Taxes
-Geaux
Quarterly Federal Excise Tax Return Form 720 revised for the Affordable Care Act
Instructions
It seems that everyone's favorite Cincinnati IRS office is going to be very busy with all that is going on...
Quote:
Where To File
Send Form 720 to:
Department of the Treasury
Internal Revenue Service
Cincinnati, OH 45999-0009
Quote:
Patient-centered outcomes research fee. The Affordable
Care Act (Public Law 111-148, amended by Public Law
111-152), imposes fees on issuers of specified health
insurance policies (section 4375) and plan sponsors of
applicable self-insured health plans (section 4376) to help
fund the Patient-Centered Outcomes Research Institute. The
fees, required to be reported annually on the 2nd quarter
Form 720 and paid by its due date, July 31st, are based on
the average number of lives covered under the policy or plan.
The fees apply to policy or plan years ending on or after
October 1, 2012, and before October 1, 2019. See
Patient-centered outcomes research fee (IRS No. 133), later.
Medical device excise tax. The Affordable Care Act
(Public Law 111-148, amended by Public Law 111-152),
imposes a 2.3% (.023) excise tax on the sale of certain
medical devices by the manufacturer, producer, or importer
of the device. The tax applies to sales of taxable medical
devices after December 31, 2012. See Taxable Medical
Devices (IRS No. 136), later.
Revised Form 720
Quote:
Form 720 Quarterly Excise Taxes as Amended
-Domestic petroleum oil spill tax
-Imported petroleum products oil spill tax
-Ozone-depleting chemicals (ODCs) tax
-ODC tax on imported products
-Communications and Air Transportation Taxes (see instructions)
-Local telephone service and teletypewriter exchange service tax
-Transportation of persons by air tax
-Transportation of property by air tax
-Use of international air travel facilities tax
-Diesel, tax on removal at terminal rack
-Diesel, tax on taxable events other than removal at terminal rack
-Diesel, tax on sale or removal of biodiesel mixture other than removal at terminal rack
-Diesel-water fuel emulsion tax
-Dyed diesel, LUST tax
-Dyed kerosene, LUST tax
-LUST tax, other exempt removals (see instructions)
-Kerosene, tax on removal at terminal rack (see instructions)
-Kerosene, tax on taxable events other than removal at terminal rack
-Kerosene for use in aviation tax (see instructions)
-Kerosene for use in commercial aviation tax (other than foreign trade)
-Kerosene for use in aviation, LUST tax on nontaxable uses
-Other fuels tax (see instructions)
-Gasoline, tax on removal at terminal rack
-Gasoline, tax on taxable events other than removal at terminal rack
-Any liquid fuel used in a fractional ownership program aircraft tax
-Aviation gasoline tax
-Liquefied petroleum gas (LPG) tax
-P Series fuels tax
-Compressed natural gas (CNG) (GGE = 126.67 cu. ft.) tax
-Liquefied hydrogen tax
-Fischer-Tropsch process liquid fuel from coal tax (including peat)
-Liquid fuel derived from biomass tax
-Liquefied natural gas (LNG) tax
-Retail TaxTruck, trailer, and semitrailer chassis and bodies, and tractors
-Ship Passenger Tax
-Other Excise Tax
-Foreign Insurance Taxes Policies issued by foreign insurers
-Casualty insurance and indemnity bonds tax
-Life insurance, sickness and accident policies, and annuity contracts tax
-Reinsurance tax
-Manufacturers Taxes
-CoalUnderground mined tax
-CoalSurface mined tax
-Taxable tires other than bias ply or super single tires
-Taxable bias ply or super single tires (other than super single tires designed for steering)
-Taxable tires, super single tires designed for steering
-Gas guzzler tax. Attach Form 6197. Check if one-time filing
-Vaccines tax (see instructions)
-Taxable medical devices
-Patient-Centered Outcomes Research Fee (see instructions)
-Specified health insurance policies tax
-Applicable self-insured health plans
-Sport fishing equipment tax (other than fishing rods and fishing poles)
-Fishing rods and fishing poles tax (limits apply, see instructions)
-Electric outboard motors tax
-Fishing tackle boxes tax
-Bows, quivers, broadheads, and points tax
-Arrow shafts tax
-Indoor tanning services tax
-Inland waterways fuel use tax
-LUST tax on inland waterways fuel use (see instructions)
-Alcohol and cellulosic biofuel sold as but not used as fuel tax
-Biodiesel sold as but not used as fuel tax
-Floor Stocks Tax Ozone-depleting chemicals (floor stocks). Attach Form 6627
-Geaux
Quarterly Federal Excise Tax Return Form 720 revised for the Affordable Care Act
Instructions
It seems that everyone's favorite Cincinnati IRS office is going to be very busy with all that is going on...
Quote:
Where To File
Send Form 720 to:
Department of the Treasury
Internal Revenue Service
Cincinnati, OH 45999-0009
Quote:
Patient-centered outcomes research fee. The Affordable
Care Act (Public Law 111-148, amended by Public Law
111-152), imposes fees on issuers of specified health
insurance policies (section 4375) and plan sponsors of
applicable self-insured health plans (section 4376) to help
fund the Patient-Centered Outcomes Research Institute. The
fees, required to be reported annually on the 2nd quarter
Form 720 and paid by its due date, July 31st, are based on
the average number of lives covered under the policy or plan.
The fees apply to policy or plan years ending on or after
October 1, 2012, and before October 1, 2019. See
Patient-centered outcomes research fee (IRS No. 133), later.
Medical device excise tax. The Affordable Care Act
(Public Law 111-148, amended by Public Law 111-152),
imposes a 2.3% (.023) excise tax on the sale of certain
medical devices by the manufacturer, producer, or importer
of the device. The tax applies to sales of taxable medical
devices after December 31, 2012. See Taxable Medical
Devices (IRS No. 136), later.
Revised Form 720
Quote:
Form 720 Quarterly Excise Taxes as Amended
-Domestic petroleum oil spill tax
-Imported petroleum products oil spill tax
-Ozone-depleting chemicals (ODCs) tax
-ODC tax on imported products
-Communications and Air Transportation Taxes (see instructions)
-Local telephone service and teletypewriter exchange service tax
-Transportation of persons by air tax
-Transportation of property by air tax
-Use of international air travel facilities tax
-Diesel, tax on removal at terminal rack
-Diesel, tax on taxable events other than removal at terminal rack
-Diesel, tax on sale or removal of biodiesel mixture other than removal at terminal rack
-Diesel-water fuel emulsion tax
-Dyed diesel, LUST tax
-Dyed kerosene, LUST tax
-LUST tax, other exempt removals (see instructions)
-Kerosene, tax on removal at terminal rack (see instructions)
-Kerosene, tax on taxable events other than removal at terminal rack
-Kerosene for use in aviation tax (see instructions)
-Kerosene for use in commercial aviation tax (other than foreign trade)
-Kerosene for use in aviation, LUST tax on nontaxable uses
-Other fuels tax (see instructions)
-Gasoline, tax on removal at terminal rack
-Gasoline, tax on taxable events other than removal at terminal rack
-Any liquid fuel used in a fractional ownership program aircraft tax
-Aviation gasoline tax
-Liquefied petroleum gas (LPG) tax
-P Series fuels tax
-Compressed natural gas (CNG) (GGE = 126.67 cu. ft.) tax
-Liquefied hydrogen tax
-Fischer-Tropsch process liquid fuel from coal tax (including peat)
-Liquid fuel derived from biomass tax
-Liquefied natural gas (LNG) tax
-Retail TaxTruck, trailer, and semitrailer chassis and bodies, and tractors
-Ship Passenger Tax
-Other Excise Tax
-Foreign Insurance Taxes Policies issued by foreign insurers
-Casualty insurance and indemnity bonds tax
-Life insurance, sickness and accident policies, and annuity contracts tax
-Reinsurance tax
-Manufacturers Taxes
-CoalUnderground mined tax
-CoalSurface mined tax
-Taxable tires other than bias ply or super single tires
-Taxable bias ply or super single tires (other than super single tires designed for steering)
-Taxable tires, super single tires designed for steering
-Gas guzzler tax. Attach Form 6197. Check if one-time filing
-Vaccines tax (see instructions)
-Taxable medical devices
-Patient-Centered Outcomes Research Fee (see instructions)
-Specified health insurance policies tax
-Applicable self-insured health plans
-Sport fishing equipment tax (other than fishing rods and fishing poles)
-Fishing rods and fishing poles tax (limits apply, see instructions)
-Electric outboard motors tax
-Fishing tackle boxes tax
-Bows, quivers, broadheads, and points tax
-Arrow shafts tax
-Indoor tanning services tax
-Inland waterways fuel use tax
-LUST tax on inland waterways fuel use (see instructions)
-Alcohol and cellulosic biofuel sold as but not used as fuel tax
-Biodiesel sold as but not used as fuel tax
-Floor Stocks Tax Ozone-depleting chemicals (floor stocks). Attach Form 6627
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