Happy New Year from the Treasury: The Final 3.8-Percent Net Investment Income Tax Regs-Part II (May 2014)

Lewis Saret authored the following column, published in CCH Taxes – The Tax Magazine, The Estate Planner: Happy New Year from the Treasury: The Final 3.8-Percent Net Investment Income Tax Regs-Part II.

“On December 2, 2013, the Treasury published final regulations (“Final Regulations”) with respect to Code Sec. 1411, which finalized the proposed regulations that Treasury released on November 30, 2012 (“Proposed Regulations”). In addition to the Final Regulations, the Treasury and the IRS contemporaneously published a new set of proposed regulations (“New Proposed Regulations”) relating to Code Sec. 1411. Part I of this column began to discuss the Final Regulations. This column, Part II, continues where Part I left off and concludes the discussion.”

Continue reading “Happy New Year from the Treasury: The Final 3.8-Percent Net Investment Income Tax Regs-Part II (May 2014)”

Happy New Year from the Treasury: The Final 3.8-Percent Net Investment Income Tax Regs-Part I (March 2014)

Lewis Saret authored the following column, published in CCH Taxes – The Tax Magazine, The Estate Planner: Happy New Year from the Treasury: The Final 3.8-Percent Net Investment Income Tax Regs-Part I.

“The health care legislation enacted in 2010, often referred to as “Obamacare,” included a significant tax provision, the Unearned Income Medicare Contribution, which has generally been referred to as the 3.8-Percent Net Investment Income Tax (NIIT). The NIIT has received a significant amount of attention among tax professionals. On November 30, 2012, the Treasury released proposed regulations that provide guidance with respect to Code Sec. 1411 (“Proposed Regs”). In response to the Proposed Regs, the IRS received numerous comments. On December 2, 2013, the Treasury published final regulations (“Final Regs”) with respect to Code Sec. 1411. In addition to the Final Regs, the Treasury and the IRS contemporaneously published a new set of proposed regulations (“New Proposed Regs”). This column, the first of a planned two-part series, will summarize the key provisions of the Final Regs.” Continue reading “Happy New Year from the Treasury: The Final 3.8-Percent Net Investment Income Tax Regs-Part I (March 2014)”