What do these things have in common? If you said IRS Quarterly Federal Excise Tax Form 720, you are a genius. That is correct. The Patient Centered Outcomes Research Institute fee will be reported & filed with IRS Form 720. Self-Insured plans have to file & pay their own fee with this form. If your plan is fully-insured, the carrier will be required to pay on your plan’s behalf. Coal producers pay a tax with this form. The tanning bed tax (10%) also courtesy of health care reform is reported and paid with this form. But what about those fishing rods, 10% goes to the government, who knew?
The form is found here: http://www.irs.gov/pub/irs-pdf/f720.pdf