Medical excise tax

[monty]

I received tis in my email today ----- You're NOT going to like this!!! This is an image of a sales receipt from Cabela's, a popular sporting goods store with almost 50 locations throughout the US . The 2.3% Medical Excise Tax that began on January 1st is supposed to be "hidden" from the consumer, but it's been brought to the public's attention by hunting and fishing store Cabela's who have refused to hide it and are showing it as a separate line item tax on their receipts, the email states. I did some research and found directly from the IRS's website information that PROVES this to be true and an accurate portrayal of something hidden in Obamacare that I was not aware of! Now being skeptical of this I went to the IRS website and found this! Q1. What is the medical device excise tax? A1. Section 4191 of the Internal Revenue Code imposes an excise tax on the sale of certain medical devices by the manufacturer or importer of the device. Q2. When does the tax go into effect? A2. The tax applies to sales of taxable medical devices after Dec. 31, 2012. Q3. How much is the tax? A3. The tax is 2.3 percent of the sale price of the taxable medical device. See Chapter 5 of IRS Publication 510, Excise Taxes, and Notice 2012-77 for additional information on the determination of sale price. IRS.gov <Â " href="http://irs.gov/>%A0" target="_blank"http://irs.gov/> ; Chapter Fivehttp://www.irs.gov/publications/p510/ch05.html<http://www.irs.gov/publications/p510/ch05.html> So being more curious I clicked on "Chapter 5 Of IRS Publication 510." And what do I find under "MEDICAL DEVICES" under "MANUFACTURERS TAXES"? The following discussion of manufacturers taxes Applies to the tax on: Sport fishing equipment; Fishing rods and fishing poles; Electric outboard motors; Fishing tackle boxes; Bows, quivers, broadheads, and points; Arrow shafts; Coal; Taxable tires; Gas guzzler automobiles; and Vaccines. I NEVER KNEW THAT A TIRE IS A MEDICAL DEVICE !! I think we have definitely been fooled, if we believe that the Affordable Care Act is all about health care. It Truly does appear to be nothing more than a bill Laden with a whole lot of taxes that we the peoplehave yet to be aware of. Please pass this on. I am still incredulous that this can go on. Where is our press? I guess it?s just like Nancy Pelosi said??. We have to pass it to see what is in it .What is next? What else is there we do not know about? I am sick to death about our government??all of them!!!!!! God help us. 5992 Sent from my iPad using Forum Runner

[Twisted Titan]

The fires of a raging Black Market are being well stoked.

[mick silver]

you know theres nothing and i do mean nothing that shocks me anymore . the doom cannot be to far off .

[7th trump]

The fires of a raging Black Market are being well stoked.

Yep....the rise of the personal garage industrial revolution is on its way.
I have two cnc'srouters sitting in my garage now with the shapeoko 2 (modified for milling soft metal) being built.
Designing and milling circuits boards just got unindustrializes......lot of people make their own circuit boards in their garages and sell their idea without being robbed from big corporations.
I suggest learning home cnc..........https://www.inventables.com/ .
A $299.00 dollar cnc machine minus cheap motors(100.00 plus combined http://www.stepperonline.com/stepper-motors-nema-23-stepper-c-1_22.html) and a cheap driver (40.00 ardruino board) to building a better more heavy industrial cnc machine with. Cnc Software is free from linux.

And Home 3d printing (you can modify the shapeoko 2 from the above link to make a nice accurate 3d printer by simply adding a print head and taller rail legs.

[Sparky]

Sons of bitches.

[palani]

Not to worry. The spin masters have jumped right on the topic and corrected the matter. Which is by way of saying that you will likely be charged without it appearing on the bill.


http://www.omaha.com/article/20130108/MONEY/701089985

Cabela's blames 'glitch' for Jan. 1 tax error, promises refunds




A companywide glitch in Cabela's cash register system that added a 2.3 percent “Medical Excise Tax” to customers' purchases — everything from boots to bullets — was an error and will be refunded, a company spokesman said Monday.

The error was discovered last week after consumers in several states notified the company that the surcharge appeared on their sales receipt and had been applied to all of their purchases.

It was a glitch in the system,” said Cabela's spokesman Joe Arterburn said.

The error was limited to transactions that occurred Jan. 1 and was caught that same day by the Sidney, Neb.-based hunting and outdoor outfitter.

As a precaution, however, all who purchased merchandise at Cabela's this month should check their cash register receipt, Arterburn said.

Customers who used a credit card or debit card to pay will have the amount automatically refunded. Those who paid the store with cash or a gift card should contact or visit Cabela's for a refund.

Arterburn said he did not know how the systemwide error was triggered.

Manufacturers and importers of certain medical devices are subject to a new 2.3 percent medical excise tax, which went into effect Jan. 1. The surcharge is a new health-related tax that went into effect this year as part of the 2010 Affordable Care Act.

New and higher taxes are being levied to help pay for new subsidies for private health insurance and expansion of Medicaid under the law.

Images of Cabela's sales receipts showing the surcharge have appeared on various websites prompting several rumors. One rumor alleged that retailers had begun passing their employees' insurance coverage costs onto consumers in the form of a medical excise tax. Other sites claimed that because the tax had been applied to shoes and shirts that clothing and footwear are now considered medical devices under the new law.

Both speculations are false.

The new tax applies to manufacturers and importers of certain medical devices, according to the U.S. Treasury, which is responsible for implementing the tax.

Many common over-the-counter medical devices such as eyeglasses, contact lenses, adhesive bandages and hearing aids are exempt from the medical excise tax under the “retail exemption” provision.

[gunDriller]

i wouldn't be surprised to see them trying to levy that tax on garage sales and other personal transactions.

[govcheetos]

i wouldn't be surprised to see them trying to levy that tax on garage sales and other personal transactions.

Everyone keep feeding the beast by paying with a bank card like the guy in the OP and they surely will.