Your Summer Glow Is Now Taxable – Tanning Tax Will Help Fund Health Care Reform
Effective July 1st there will be a 10% excise tax on all indoor tanning services. Last week the IRS announced the new regulations outlining the administration of this new tax that has been in the works for several months. This new tax is part of the 2010 tax hikes aimed at funding the health care reform.
How the new tax affects you:
Whether you are a business providing indoor tanning services or are a customer simply seeking to maintain your bronze throughout the year, starting July 1st you need to be aware of how this new tax will affect you. The tax will be applied upon purchase of the tanning services. The provider of the tanning service will then, on a quarterly basis, hand over the collected tax amounts to the government, including IRS Form 720 – Quarterly Federal Excise Tax Return.
Exceptions include:
-Physical fitness facilities that offer tanning as an incidental service to members
For more information, check out the video Tanning Services Excise Tax.
While this new tax will affect tanning service providers and taxpayers seeking that summer glow, it is part of the IRS’s fortified efforts at narrowing the gap between the federal deficit and taxpayers who fail (intentionally or unintentionally) to file proper tax returns. The IRS collection tactics are becoming more and more aggressive in targeting individuals and businesses that may owe back taxes or have delinquent tax returns.
If you owe the IRS back taxes, you can get expert tax attorney and tax resolution services to help you resolve your IRS tax problems. Call our office today at 1-866-477-7762 for a free tax resolution consultation or visit www.taxresolution.com.
More Tax Help, IRS News and Tax Relief Tips:
- Your Unfiled Delinquent Tax Return Checklist: Stop the IRS Now and Avoid Steep Interest and Penalties from Accumulating
- IRS Tax Relief News–Did You File Your Taxes?
- Tax Help Options For Overseas Tax Evasion as UBS Pushes For Swiss-US Deal
- IRS Help and Income Tax Relief for Individuals and Businesses Unable to Meet Tax Obligations
- How to Get IRS Tax Relief from Back Taxes or Unfiled Tax Returns
Tags: Back Taxes, delinquent tax returns, IRS help, tanning tax, tax resolution services
