When is the PCORI Fee
due date in 2024?
PCORI Fee is due by July 31st,2024 which is a Wednesday. The PCORI fee needs to be paid to the IRS.
How do you pay your
PCORI fee?
There are 2 prominent methods to pay your PCORI fee.
1.Online through an IRS Authorized Provider like Simple720
2.Manual Filing.
The IRS recommends and encourages online filing rather than paper filing.
Benefits of Online
Filing:
Faster Processing:
Compared with manual filing, PCORI Online
filing can be completed in a few minutes. With the Simple720 online portal, you
can save time and effort.
Accuracy:
On manual filing, you may encounter calculation errors. In
Online filing, our dashboard populates the calculation when you enter the basic
details – ‘number of lives covered’.
Cost and Impact:
Paper filing seems to be cost-effective. But there are
hidden charges like postage, printing, etc., Online filing may have a small
amount as a process fee but it's convenient and efficient.
Let’s save the earth by avoiding printing paper wherever
possible!
Security:
In paper filing, at times, your filing may not reach the IRS
online. It might get lost in transit. Your filing will reach the IRS in a few
minutes in online filing. We, at Simple720, 100% secure your data at all times.
Manageability
In paper filing, the data are hard to maintain and retrieve. In online filing, you can access your filing data anytime by our Simple720 dashboard.
What happens when you
do not file PCORI on time?
The IRS levies a penalty for non-filing of up to 25%. Read
our article on the PCORI Penalty to learn about the consequences.
PCORI filings are made simple with our Simple720 Excise Tax
Online Portal.