IRS Issues Final Regulations for Medical Device Excise Tax Effective January 1, 2013: Industry Continues to Seek Delay or Repeal

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The IRS recently published final regulations to implement the 2.3 percent medical device excise tax scheduled to go into effect on January 1, 2013. The final rule makes no major changes from the proposed rule issued earlier this year. The tax was included in the Patient Protection and Affordable Care Act, enacted in 2010. The IRS also issued an interim guidance document to clarify issues not covered in the final regulations. The medical device industry has strongly opposed this tax, and efforts to delay or repeal the tax are ongoing.

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Topics:  Excise Tax, IRS, Medical Devices

Published In: Health Updates, Science, Computers & Technology Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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