Obamacar Medical Device Tax Update

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The audit by the Treasury inspector general for tax administration says the IRS needs to do a better job policing the tax. The tax agency, however, doesn't have adequate tools to identify which companies owe it, the audit said

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24 percent less than the estimate.

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The medical device industry has been lobbying hard to get the tax repealed, and there has been movement in Congress. Both the House and the Senate have passed separate pieces of legislation calling for the tax to be repealed

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But while a majority of Congress is on record supporting repeal, there is no consensus on how to make up the lost revenue without adding to the budget deficit.

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