New Tax due July 31st

Here is the IRS Page regarding the new tax that is due to fund the Patient-Centered Outcomes research.  Patient-Centered Outcomes Research Trust Fund Fee (IRC 4375, 4376 and 4377): Questions and Answers

If you read through it you will see that all health insurance plans have to pay this but, You are only required to take action if you have a self-funded health plan or HRA.

Also it appears that you only owe it the year after your plan renews following October 1st 2012.  So if you are self funded or have an HRA and your plan ended before January 1st, read if you renewed your plan January 1st or before you owe this tax as of July 31st.

We currently have an accountant that we are working with if you would like help.

Here is the form that you need.  http://www.irs.gov/pub/irs-pdf/f720.pdf

Here is the information regarding this requirement.

Please remember that we are not accountants or attorneys so you may want to contact you personal attorney and accountant for additional details.

 

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