1000s Of Firms Aren’t Paying An “Obamacare Tax”, IRS Audit Finds 24% Shortfall

Wednesday, August 20, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
08/20/2014

It appears Sen. Orin Hatch’s comment that “everything from this ill-conceived tax’s structure to its implementation has been a disaster,” are coming true. As AP reports, an “Obamacare” tax on medical devices is falling short of its revenue target because thousands of companies aren’t paying it, according to a government audit released Tuesday. An audit found the IRS received only 5,107 returns (against expectations of over 9,000) with a 24% shortfall in revenues. The tax is projected to generate $29 billion over the coming decade, so a 24 percent shortfall – if it were sustained – would be significant.

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