Quarterly Federal Excise Tax eFiling

Federal Excise tax is referred to indirect type of taxation imposed on the manufacture, sale or usage of certain type of goods and products. However, excise taxes are included in the price of the product, such as cigarettes or alcohol, also included in the price of an activity, often gambling. They are imposed by both […]

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 […]

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. […]