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House passes repeal of medical device tax

Source: https://taxprotoday.com/news/house-passes-repeal-of-medical-device-tax?utm_campaign=tax%20pro%20today-jul%2027%202018&utm_medium=email&utm_source=newsletter&eid=977cafbae57d699e060554f2f68f52b4 - Jul 27, 2018

The House approved a repeal of the Affordable Care Act’s medical device tax, along with a bill that prohibits the IRS from rehiring any employee who was fired for misconduct.

Implementation of the 2.3 percent excise tax has repeatedly been delayed by Congress ever since the passage of the ACA in 2010, in part thanks to lobbying by medical device manufacturers. The Senate isn’t expected to take up the bill before the end of the year, according to The Wall Street Journal. However, the latest moratorium on the tax means it won’t take effect until at least January 2020.

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Category: General Business