Tan Tax
Tan Tax
The 10% excise tax on tanning services goes into effect on July 1st and applies to returns that relate to calendar quarters beginning after June 30, 2010.
The Internal Revenue Service formally published the final and temporary regulations on June 15. We urge you to review these regulations with your tax advisors. These regulations can be accessed here.
The IRS is issuing these regulations as “temporary” to provide guidance to users and providers of indoor tanning services. The text of the temporary regulations also serves as the text of the “proposed” regulations.
Before these regulations are final, the IRS is required to receive and respond to public comment. If you believe the proposed rules are unfair or do not properly take into account the way you or the industry does business; you should voice your concerns to the IRS. Written and electronic comments must be received by September 13, 2010. There are instructions regarding submission of the comments in the Notice of Proposed Rulemaking (first column on page 33740). We encourage everyone to contact the IRS during the comment period.
The Internal Revenue Service has issued answers to frequently asked questions (FAQs) regarding the Tan Tax.
Please use this link to view this document: http://www.irs.gov/businesses/small/article/0,,id=224600,00.html
This information is from: