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The IRS gears up to tackle Obamacare | MassDevice.com On Call

Fri, 11/23/2012 - 8:29am
Mass Device

The Internal Revenue Service has a hefty burden on its plate in preparing to handle a new slate of taxes and rules contained within President Barack Obama's landmark Affordable Care Act.

MassDevice On Call

MASSDEVICE ON CALL — The U.S. Internal Revenue Service should have its hands full in dealing with implementation of the new taxes and rules contained in the Affordable Care Act.

The federal agency must handle more than 40 changes to the tax code as well as make sure appropriate recipients get new tax credits and individuals and businesses pay penalties for any non-compliance.

Included among those new laws is the 2.3% medical device sales tax slated to take effect January 1, 2013, which industry stakeholders are actively lobbying against.

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