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Every gallon of gasoline or diesel moving through a U.S. terminal carries a tax most drivers never see. If you sell, blend, or import that fuel, the fuel excise tax is a line item you calculate, report, and pay to the IRS every quarter.

Certain taxpayers and companies who have paid some federal excise taxes are qualified for claiming a tax credit or refund using the form called IRS Form 8849, Claim for Refund of Excise Taxes.

Businesses moving gasoline through the U.S. fuel supply chain face a fixed tax obligation the moment fuel changes hands or crosses into non-bulk transport. Whether you're a refiner, a terminal operator, or a fuel blender, the federal gasoline tax rate applies the same way regardless of company size.

What Is Aviation Fuel Tax? Aviation fuel tax is a federal excise tax imposed on certain fuels used in aircraft operations. Aviation fuels generally include aviation gasoline (Avgas) and kerosene used in aviation (jet fuel). Depending on the fuel type, its removal, and its use in aviation, there may be various tax rates according to the Internal Revenue Code.

Form 8849 of the IRS, Claim for Refund of Excise Taxes, is filed to claim refunds for some specific federal excise taxes that have been paid or have been claimed. The form applies to specific circumstances where a tax refund can be claimed on the basis of different schedules, including but not limited to fuel tax refunds and overpayments of tax.

For those submitting the Quarterly Federal Excise Tax Return Form 720 and making a payment using the paper-based return, it may be necessary to submit Form 720-V, Payment Voucher.

When did the PCORI Fee start? The PCORI Fee started for plan years and policy years ending after September 30, 2012. This means: 1)The first applicable PCORI fee period began in 2012. 2)The first payments were generally made in 2013, because the fee is reported and paid by July 31 of the calendar year following the end of the applicable plan year or policy year

The determination of the PCORI fee involves computing the average number of lives covered under an applicable self-insured health plan for a particular plan year. The IRS offers several acceptable ways of determining the covered lives, which include actual count, snapshot method, and Form 5500 method.

The computation of PCORI Fee could appear quite complex, particularly with the computation of the average number of covered lives in a health plan. But with the knowledge of the correct computation techniques approved by the IRS, the process will be greatly simplified.

Every year, employers who sponsor self-funded health plans run into the same problem. How many covered lives do we actually have, and what do we owe? That number drives the whole PCORI fee calculation.

Have you ever thought about which portal to file your PCORI fee? Filing your PCORI Tax via the correct portal is one of the key actions to be taken by you for ensuring its safe and accurate submission.

Who Is Responsible for Paying the PCORI Fee? Responsibility comes down to one distinction: is the plan insured or self-insured? Fully Insured Plans The insurance company calculates, reports, and pays the fee. As an employer, you don't file anything for that coverage. The carrier handles it as part of managing the policy.