Paulsen presses IRS on medical device tax regulations
Rep. Erik Paulsen (R-Minn.) presses the IRS on the final rules for implementing the medical device tax, a 2.3% levy on U.S. revenues set to begin Jan. 1, 2013.
Rep. Erik Paulsen (R-Minn.) pressed an IRS representative for answers on the medical device tax during a hearing at the U.S. House of Representatives this week.
The tax, a 2.3% levy on all U.S. sales of medical devices, is set to go into effect Jan. 1, 2013. Paulsen asked IRS deputy commissioner Steven Miller whether the tax agency has given any consideration to the administrative burden complying with the tax would entail.
"Now that we're moving forward to January 1st, these companies are laying off employees already. I want to make sure that we're taking into account the paperwork," Paulsen said during the House Ways and Means Subcommittee on Oversight hearing  on implementing President Barack Obama's healthcare reform law.