Coal, Fishing rods, Tanning Beds and Self-insured Health Plans

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