Skip to comments.IRS aims to clarify investment income tax under healthcare law
Posted on 12/03/2012 7:37:40 PM PST by Beave Meister
(Reuters) - The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.
The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income.
The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.
The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.
The 159 pages of rules spell out when the tax applies to trusts and annuities, as well as to individual securities traders.
(Excerpt) Read more at reuters.com ...
Dont cha love tax increases by ‘rule’ change. heck sure beats have to pass a law
And this originated in the Senate?
So, obama has already passed a tax on the wealthy. Now he is pushing to pass yet another.
Just where is the GOP pointing all this out?
“The 159 pages of rules spell out when the tax applies to trusts ...”
Let me guess - I’ll bet the $200K and $250K limits are not indexed to inflation like congressional salaries. Another AMT style fraud that targets the upper middle class and then over time it oozes down into the middle class
These taxes are small potatoes for what the real cost will be. They still haven’t factored in the fact that this bill will quadruple within the next few years. Then what?
Congress is exempt from Obamacare so this tax does not apply to them.
Not what our nation was intended to be.
Are trusts taxed today?
Wow. Talk about a 'marriage penalty'!
Congress is also exempt from insider trading laws.
All animals are equal, except on Orwell’s Stalinist Animal Farm.
The commie rats in Congress know this book well.
problem is a lot of mexico has moven to texas.
who do we eat when we’ve eaten all the rich?
we redefine rich, and then, eat them.
gotta love liberal logic.
There’s really only one “rule” at this point: Everything belongs to the government - if we allow you to keep some of it, just nod your head, touch your forelock, and say with enthusiasm, “Yes, sir; thank you, sir!”
This was in the 0bamacare bill. But they had to pass it before they read it.
Yes, but at lower rates.
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