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Friday, August 22, 2014

Medical Equipment Taxes Not Working So Well

A tax that Congress enacted to help pay for Obamacare is not performing as well as hoped. The Treasury Inspector General's audit says the tax on medical devices is falling behind on its revenue target because thousands of companies simply aren't paying the tax. The tax is on the sale of medical devices used mostly by doctors and hospitals. It took effect in January 2013. For the first six months of 2013, the IRS predicted it would collect $1.2 billion, but it only collected $913 million from the tax.


Anonymous said...

The companies lost their sales receipts . I'm sorry the hard drive collapsed .

Anonymous said...

Proof higher taxes strangle economic growth.

Anonymous said...

awww. it's a shame.