Tag Archives: PCORI fee

Quarterly Federal Excise Tax Form 720 reporting for 2nd Quarter

The Federal Excise Tax returns reported to IRS using Tax Form 720, for the 2nd quarter of 2018 is now due this July 31. Try electronic filing at http://TaxExcise.com and save your time and effort. Electronic filing is fast, safe and secure; takes just minutes to get your return processed by the IRS. In case of any credit that you owe back from the IRS, use Form 8849 – Claim for Refund of Excise Taxes and do it online at http://TaxExcise.com.  The only website to support electronic filing for all the Federal Excise Tax Forms at one place.

  1. Form 720 – Quarterly Federal Excise Tax 
  2. Form 2290 – Heavy Vehicle Use Tax 
  3. Form 8849 – Claim for Refund of Excise Taxes

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FAQ’s on Patient-Centered Outcomes Research Trust Fund Fee

The-PCORI-Fee-ExplainedNew research trust fund fees are due this July 31 from health insurers and the plan sponsors of self-insured plans. The fee is paid annually using IRS Tax Form 720, Quarterly Federal Excise Tax Return. The payment, paid through the Electronic Federal Tax Payment System (EFTPS), should be applied to the second quarter (in EFTPS, select Q2 for the Quarter under Tax Period on the “Business Tax Payment” page). This PCORI Fee can be prepared and reported online at http://www.TaxExcise.com, let us see what is this tax/fee allabout and few additional information on it.

Q1. What is the Patient-Centered Outcomes Research Trust Fund fee?

The Patient-Centered Outcomes Research Trust Fund fee is a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute (PCORI). The institute will assist, through research, patients, clinicians, purchasers and policy-makers, in making informed health decisions by advancing the quality and relevance of evidence-based medicine. The institute will compile and distribute comparative clinical effectiveness research findings. Continue reading