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IRS Issues Guidance on 3.8% Investment Income Tax Under Healthcare Law | Taxation Brief

IRS Issues Guidance on 3.8% Investment Income Tax Under Healthcare Law

Reuters:

To illustrate when the tax applies, the IRS offered an example of a taxpayer filing as a single individual who makes $180,000 in wage income plus $90,000 from investment income. The individual’s modified adjusted gross income is $270,000.

The 3.8 percent tax applies to the $70,000, and the individual would pay $2,660 in surtaxes, the IRS said.

Draft regulations can be found here and here. An FAQ can be found here.