Electronic Filing for Federal Excise Tax Form 720

If you own a business that deals in goods and services subject to excise tax, you must prepare a Form 720 quarterly to report the tax to the IRS. The federal government charges an excise tax on specific types of products and services, and in some ways resembles a state sales tax. Excise taxes are taxes paid when purchases are made on a […]

Still you can e-file your 720 returns!

The Federal Excise Taxes reported in IRS Tax Form 720 for the 2nd Quarter of 2016 is already cross the due date. You can still e-file it and report it with the IRS, lower your chances of paying more penalties and late fees. IRS would process and acknowledge you immediately once it is e-filed. Form […]

What is New in IRS Form 720?

What’s New Sections 4375 and 4376 patient-centered outcomes research fee.   The fee for policy and plan years ending on or after October 1, 2013, is $2.00, multiplied by the average number of lives covered under the policy or plan. The fee for policy and plan years ending before October 1, 2013, remains at $1.00, multiplied […]