IRS proposes rule for device tax

The Internal Revenue Service proposed a rule on Friday that would implement a 2.3% excise tax on the sales price of certain medical devices sold after Dec. 31, 2012. The excise tax was mandated by the Patient Protection and Affordable Care Act. Comments on the proposed rule are due 90 days after publication in the Federal Register. IRS will hold a public hearing on the rule on May 16. ...