Proposed regs. issued by IRS on 3.8% net investment income tax

The IRS has released proposed regulations for the 3.8% investment income tax imposed under Code Section 1411. The tax is equal to 3.8% of the lesser of an individual’s net investment income for the tax year or the excess of the individual’s modified adjusted gross income for the tax year over $250,000 for married filing joint, $125,000 for married filing separately, and $200,000 for singles. To view the full article on the Journal of Accountancy’s website, click here.