How the new 3.8 percent tax may apply to selling a business
A new unearned income Medicare contribution tax, enacted as part of the healthcare act, applies to net investment income of individuals whose modified adjusted gross income exceeds certain threshold amounts. The threshold amounts are $250,000 for married filing jointly, $125,000 for married filing separately and $200,000 for single taxpayers.
Affordable Care Act - What to expect in 2013 and 2014
The Affordable Care Act, along with the Healthcare and Education Reconciliation Act, represents the most significant regulatory overhaul of the U.S. healthcare system since the passage of Medicare and Medicaid in 1965. Although the major non-tax-related changes of the act are yet to come, a few significant tax provisions will take place in 2013 and 2014.
Federal agencies strive to counter identity theft
There are always plenty of reasons to speed up the process of filing your individual return. The primary reason has always been that, if you're expecting a refund, you shouldn't wait any longer than necessary to receive it. Well, you can add identity theft to your reasoning now.
The technical information here is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the information contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.
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