IRS Clarifies New Tax Rules

Nothing says ‘clarity’ like 159 additional pages of US Tax Code.

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.

Released late on Friday, the new regulations include a 0.9 percent healthcare tax on wages for high-income individuals

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2 Responses to IRS Clarifies New Tax Rules

  1. James says:

    Why should high earners have to pay other people’s healthcare shit?

  2. Uke says:

    Because some people clearly stepped all over the working man and ground them under their bootheels in order to pillage and thieve their way into ill-gotten wealth, duh. Get an education, capitalist pig.