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Dukhon Tax shares strategies for Avoiding or Reducing the new 3.8% Net Investment Income Tax As of the beginning of 2013, new Code section 1411 imposes an additional tax of 3.8% on unearned net investment income. The so-called “Net Investment Tax” or “NIT” kicks in after certain thresholds effectively pushing up the top marginal tax rate for individuals, trusts, and…
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IRS to Delay Tax Season The Internal Revenue Service will be delaying the start of the 2013 (tax year) tax season for approximately two weeks. This is one of the residual effects of the government shutdown. Per the IRS: “The Internal Revenue Service today announced a delay of approximately one to two weeks to the start of the 2014 filing…
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