Crimson Audit & Review

Content Audit, Review & Consulting for Medical Device Makers

IRS Issues Final Medical Device Tax Guidance – 26 CFR Part 48

Posted by crimsonlanguage on 2012/12/05

Today, the IRS issued their final guidance to medical device companies who are subject to the upcoming “Device Tax” (26 CFR Part 48) – the guidance document can be downloaded here. According to the summary:

This document contains final regulations that provide guidance on the excise tax imposed on the sale of certain medical devices, enacted by the Health Care and Education Reconciliation Act of 2010 in conjunction with the Patient Protection an Affordable Care Act. The final regulations affect manufacturers, importers, and producers of taxable medical devices.

This document contains final regulations that provide guidance on the excise tax imposed on the sale of certain medical devices under section 4191 (the medical devic excise tax) of the Internal Revenue Code (Code), enacted by section 1405 of the Health Care and Education Reconciliation Act of 2010, Public Law 111-152 (124 Stat. 1029 (2010)), in conjunction with the Patient Protection and Affordable Care Act, Public Law 111-148 (124 Stat. 119 (2010)) (jointly, the ACA).

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