The 2.3 percent excise tax — which took effect in January 2013 — brought in just $913.4 million during those two quarters. The Joint Committee on Taxation had projected the tax would bring in an estimated $20 billion in revenues for fiscal years 2013 through 2019. However, after conducting an audit to assess the IRS processing of tax returns and ensuring compliance, the TIGTA has concluded the IRS has encountered numerous problems in administering the tax.
Click here to read the full report on Becker’s Hospital Review.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.