The Internal Revenue Service has released an updated Form 720, the Quarterly Federal Excise Tax Return, to reflect the new 10 percent excise tax on indoor tanning salons in the health care reform bill.
A new line on Part II of the form lists "indoor tanning services" and describes the rate as "10% of amount paid."
The IRS has also released revised instructions for the form on its website, along with guidance. That includes a set of nine tips on the 10 percent tax on tanning services and a set of frequently asked questions.
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