Excise Tax Form 720 on Indoor Tanning Services due Jan 31.

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E- Filing the Indoor Tanning Services Excise Tax


Beginning July 1, 2010, many businesses offering indoor tanning services are required to collect a 10 percent excise tax on the indoor tanning services they provide. The provider must pay the excise tax to the government, quarterly, along with IRS Form 720, Quarterly Federal Excise Tax Return. The following information is designed to help indoor tanning services providers understand how to collect, file and pay the tax.


Collect the Tax

In general, providers of indoor tanning services should collect the 10 percent tax at the time the purchaser pays for the indoor tanning services.


File the Tax Return

Indoor tanning services providers must report the tax on Form 720 and pay the excise tax on a quarterly basis.
File and pay Form 720 by:
  • April 30 to report tax collected in Jan., Feb. and March
  • July 31 to report tax collected in April, May and June
  • October 31 to report tax collected in July, Aug. and Sept.
  • January 31 to report tax collected in Oct., Nov. and Dec. of the prior year


E- Filing the Indoor Tanning Services Excise Tax

Report the indoor tanning services tax on Form 720, Quarterly Federal Excise Tax Return electronically at www.TaxExcise.com and get it accepted by the IRS in minutes.
Benefits of e-filing at  www.TaxExcise.com:
·         IRS E-file 1st service partner
·         Secured Network
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·         IRS Instant Acceptance
·         Claims Credits using Schedule C
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NOTE:  
  • If any due date for filing a return falls on a Saturday, Sunday, or legal holiday, you may file the return on the next business day.
  • If you do not have an Employer Identification Number you must acquire one before filing your first Form 720, Quarterly Federal Excise Tax Return. You can apply for and receive an EIN online.



Click Here for Excise Tax on Indoor Tanning Services Frequently Asked Questions.


Reminder: Excise Tax on indoor tanning tax is due by Jan. 31

www.Tax720.com /www.TaxExcise.com is a certified, IRS authorized, e-file service provider for Form 720. Tax720 is a product of ThinkTrade, Inc and a part of TaxExcise.com. We are a BBB accredited company with A+ certification.


For any further information regarding Form 720 please reach us at 1-866-245-3918 or simply write to us at support@taxexcise.com

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