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.
The IRS has said its ready to tackle the new laws, but some are concerned that the agency isn’t prepared to manage the potentially gargantuan task.
"They’re going to be very strained," former IRS commissioner Mark Everson told Politico. "The main thing is the vast amount of information required for the IRS to collect and dispense. (…) There’s a lot of complexity to it."
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