What is new in Form 720?

Patient-Centered Outcomes Research Fee Increased: (IRS No. 133)
Sections 4375 and 4376 patient-centered outcomes research fee increase.   The fee for policy and plan years ending on or after October 1, 2014, but before October 1, 2015, is the applicable rate of $2.08, multiplied by the average number of lives covered under the policy or plan. The applicable rate for policy and plan years ending on or after October 1, 2015, will be included in future revisions. For updated information, keep following us in www.TaxExcise.com.
The fee for policy and plan years ending on or after October 1, 2013, but before October 1, 2014, remains at the applicable rate of $2.00, multiplied by the average number of lives covered under the policy or plan.
Inland waterways fuel use tax (IRS No. 64) increase.    The rate increases to $.29 per gallon for fuel used after March 31, 2015.

Future Developments

For the latest information about developments related to Form 720 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form720.

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