Audit: ‘Obamacare’ tax not meeting revenue target
Source: ASSOCIATED PRESS
WASHINGTON (AP) A government audit says an Obamacare tax on medical devices is falling short of its revenue target because thousands of companies arent paying it.
The audit by the Treasury inspector general for tax administration says the Internal Revenue Service needs to do a better job policing the tax.
To help pay for President Barack Obamas health law, Congress enacted a 2.3 percent tax on the sale of medical devices used chiefly by doctors and hospitals, such as pacemakers and CT scan machines.
The tax took effect in January 2013. For the first six months of that year, the IRS estimated it would collect $1.2 billion from the tax. The audit said the IRS collected only $913 million 24 percent less than the estimate.
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Read more: http://www.salon.com/2014/08/19/audit_obamacare_tax_not_meeting_revenue_target/
elleng
(130,964 posts)You think Treasury needs more IRS employees? Really?
elleng
(130,964 posts)Iamthetruth
(487 posts)Instead of hiring more irs employees they change the tax codes so pele can actually understand it.
elleng
(130,964 posts)and 'they' are not doing anything constructive these years.
albino65
(484 posts)If everyone paid the taxes they owed, we wouldn't have any money problems. The list of people who have not paid their property taxes should be available in your particular jurisdictions. We already know about corporate deadbeats. It's up to us to put pressure on our local governments to collect these taxes.
PatrynXX
(5,668 posts)Jesus said pay the tax man. me thinks some so called christians have not read their own bible
AngryAmish
(25,704 posts)mimi85
(1,805 posts)valerief
(53,235 posts)stuffmatters
(2,574 posts)Even tho Obamacare has probably increased their sales- revenue substantially, they're top of the short list looking to invert.
Economic traitors, pure and simple.