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IRS Releases Proposed Regs and FAQs on 3.8% Net Investment Income Tax

With tax provisions set to expire on payroll taxes, capital gains rates, income tax rates, AMT exemptions, estate taxes, and nearly everything else, the tax picture for 2013 is anything but clear. One thing that we can expect with certainty on January 1, 2013, is the introduction of the 3.8% investment...

Net Investment Income Tax Final Regulations - Application to Trusts and Estates

Application to Trusts and Estates Section 1402(a)(1) of the Health Care and Education Reconciliation Act of 2010. [Pub. L. 111-152, 124 Stat. 1029] added IRC § 1411 effective for taxable years beginning after December 31, 2012. IRC § 1411 imposes a 3.8 percent tax on certain individuals...

Net Investment Income Tax

by Shahzad A. Malik J.D. LL.M and Ryan C. Gaglio J.D. * Effective January 1, 2013, IRC Section 1411 imposes a net investment income tax of 3.8 percent on certain investment income of individuals, estates and trusts that have income above the statutory threshold amounts. Proposed Treasury Regulation...

Estates and Trusts and Final Regs Under IRC Section 1411

Basics of the Ner Investment Income Tax. The Net Investment Income Tax (NIIT) is imposed by I.R.C. Section 1411. The NIIT applies at a rate of 3.8 percent to certain net investment income of individuals, estates, and trusts that have income above the statutory threshold amounts. The NIIT went into effect...