MASSDEVICE ON CALL — Ongoing confusion about the 2.3% medical device excise tax may lead to overpayment in the early months of implementation, according to a Tax Analysts report.
"Some companies are putting a lot of time and effort into compliance, but many more are still struggling," Deloitte Tax LLP’s John Seabrook said in the report. "Companies should be making deposits now."
The confusion stems from the complexity of the tax, which puts a heavy burden on companies to interpret the law and calculate their obligations, the public policy think tank Tax Foundation reported.
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