IRS issues Notice 2011-92 providing guidance on branded prescription drug fee for 2012 fee year - Form 8947 due December 15, 2011

The Internal Revenue Service (IRS) recently issued Notice 2011-92, which provides guidance on the branded prescription drug fee for the 2012 fee year relating to (1) the submission of Form 8947, “Report of Branded Prescription Drug Information,” (2) the time and manner for notifying covered entities of their preliminary fee calculation, (3) the time and manner for submitting error reports for the dispute resolution process, and (4) the time for notifying covered entities of their final fee calculation.