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

Posted on

Author: Sam Baronian, III, CPA | Tax Senior Associate

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 information@keitercpa.com | 804.747.000.


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.

More Insights from Keiter CPAs

Contact

How Can We Help You and Your Business?

Innsbrook Corporate Center
4401 Dominion Boulevard
Glen Allen, Virginia 23060

804.747.0000 or 804.273.6200

Directions