IRS issues regulations regarding tax on tanning services
by AccountingWEB on
The Internal Revenue Service recently has issued regulations outlining the administration of a 10 percent excise tax on indoor tanning services that goes into effect on July 1.
In general, providers of indoor tanning services will collect the tax at the time the purchaser pays for the tanning services. The provider then pays over these amounts to the government, quarterly, along with IRS Form 720, Quarterly Federal Excise Tax Return, according to the IRS. The regulations have been published in the Federal Register.
The tax does not apply to phototherapy services performed by a licensed medical professional on his or her premises. The regulations also provide an exception for certain physical fitness facilities that offer tanning as an incidental service to members without a separately identifiable fee.
The IRS and Treasury Department invite comments.
Send submissions to: CC:PA:LPD:PR (REG-112841-10), Room 5203, Internal Revenue Service, PO Box 7604, Ben Franklin Station, Washington, DC 20044.
Submissions may be hand-delivered to: CC:PA:LPD:PR Monday through Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (REG-112841-10), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC.
Submissions may be sent electronically via the Federal eRulemaking Portal at www.regulations.gov (REG-112841-10).
You may like these other stories...
Every career professional today potentially faces unrelenting time pressure. This is true across the board, for newbies as well as for veterans in the workplace, for CEOs and for cashiers. How can this be so?Independent of...
In the 12 years Virginia Hilton has been teaching yoga, she has heard from countless CPAs who are intrigued by the idea of practicing the ancient discipline, but think they're not flexible enough, or that yoga might be a...
On any normal day Katie Bailey, audit manager at CPA firm Dauby O'Connor & Zaleski, LLC (DOZ) in Carmel, Indiana, would definitely consider herself an active person. She runs 20-plus miles a week, logs lunch hours in...
Upcoming CPE Webinars
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.