IRS Releases Draft Form 8960: Net Investment Income Tax – Individuals, Estates, and Trusts

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The Internal Revenue Service has released the draft Form 8960. The purpose of this form is to compute the 3.8% net investment tax introduced in The Patient Protection and Affordable Care Act also commonly referred to as Obamacare. The Form’s instructions will be released at a later date. The net investment income tax cited in IRC Sec. 1411 affects individuals, estates, and trusts.

For more information on the net investment income tax, please contact your Keiter representative or | 804.747.000.

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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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