Final Regulations Clarify Net Investment Income Tax

Final Regulations Clarify Net Investment Income Tax

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On November 26, 2013, the IRS released  final regulations under Internal Revenue Code (IRC) § 1411. The new regulations govern the laws related to the net investment income tax that was created by the Affordable Care Act of 2010. In addition to the final regulations, the IRS issued new proposed regulations on the computation of net investment income as it relates to the sale of interests in partnerships and S Corporations. The final and newly proposed regulations address many of the comments and concerns that were brought to the IRS regarding the original proposed regulations. In general, the final regulations retain the same foundations as the proposed regulations with certain notable modifications. Highlights of the Regulations are as follows:

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


About the Author

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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