Device Tax Brings In Less Than IRS Estimates For First Half Of 2013

A new Treasury Department inspector general audit found that medical device tax revenue amounted to $913.4 million in the first half of 2013, significantly less than the $1.2 billion the IRS had estimated it would collect. Generally, the report said the IRS needs to improve its tactics to ensure accurate reporting and payment of the ACA device tax, which the industry has continuously pushed to be repealed. The Treasury Inspector General for Tax Administration (TIGTA) recommended that IRS should continue...