NEW Filing requriement: Form 720

[tpnl]

Due date July 31, 2013 reporting and paying the fee for Patient-Centered outcomes research fee as covered on Form 720.

In the instructions for Form 720, IRS No. 133 is referenced for special rules about who must file. Does anyone know where I can find IRS No. 133?

We have a client who has a health plan in which the business pays the medical bills. We believe Form 720 must be completed and filed for this type of coverage.

[mactoolsix]

Maybe this helps?

http://www.hrthatworksblog.com/tag/irs-no-133/

Mike

[tpnl]

Thanks

Thanks for the response, that is pretty much what the instructions say. I am trying to find out if the type of plan my client has is the type that is required to file the form (or if my clients plan is excluded from the requried filing).

It will only amount to $2.00 if they are required to file, such a waste of taxpayers dollars for $2.00 tax.

[mactoolsix]

See Fees for health insurance policies and self-insured health plans on page 44 of this document:

JCX-6-13 download pdf from: https://www.jct.gov/publications.htm...rtdown&id=4511

It states:

A "specified policy" generally includes any accident or health insurance policy (including a
policy under a group health plan) issued with respect to individuals residing in the United States
(including a possession), subject to an exception for certain types of coverage.132 A prepaid
health coverage arrangement is treated as a specified policy, and the person agreeing to provide
(or arrange for the provision of) coverage under the arrangement is treated as the issuer.133


Mike

[John of PA]

The very low amount of tax due is just to get everyone on board in compliance. Expect this tax to go through the roof over the next 10 years. Also a 63 dollar per year fee for 105 plans starts in 2014.