HIDA Government Affairs Alert

December 2012, HIDA comments updated Feb. 2013

Medical Device Tax FAQ: Final Rule and Interim Guidance

The IRS released a final medical device excise tax regulation on December 5, 2012 for industry to implement by January 1, 2013. Additionally, the IRS released Interim Guidance that addresses how Convenience Kits are treated, how constructive sales price should be calculated, and penalties. The IRS is accepting comments on the Interim Guidance through March 29, 2013. An Interim Guidance essentially functions as a regulation until the agency decides to change it.

The final regulation and Interim Guidance adopted several changes recommended by HIDA.

Members view key points, tax determinations, exemptions and further information outlined in the FAQ >>