The 3.8% Net Investment Income Tax (“NIIT”) was passed as part of the 2010 Affordable Care Act. It went into effect on January 1, 2013 and it applies to investment income only. The IRS has released extensive proposed regulations detailing the application of the...
The IRS announced today that the 2014 tax return filing season will be delayed 1-2 weeks to allow adequate time to program and test tax processing systems following the 16-day federal government closure. The originally scheduled starting date for the 2014 tax filing...