IRS Issues Final Rules On New Investment Income Tax

Law360, New York (December 2, 2013, 2:00 PM EST) -- The Internal Revenue Service on Monday published final rules clarifying the application of a new tax on certain types of passive income that was called for as part of President Barack Obama's landmark health care law that affects top earners, trusts and estates.

The IRS regulations published in Monday's Federal Register provide guidance on the computation and application of the net investment income tax that will became effective for tax years beginning after Dec. 31. The provision imposes a 3.8 percent tax on certain types of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.