November 2013

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Trusts and the 3.8% Medicare Surtax

Posted & filed under Blog.

Welcome to the wacky world of the new 3.8% Medicare Surtax! Did you know it also applies to trusts? As we have previously reported, a 3.8% “Medicare Surtax” on net investment income (NII) has been in place since January 1, 2013. Income that just last year was taxed no higher than 35% could reach a new…

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Act Now or Pay Later: Unraveling the New “Repair” Regulations

Posted & filed under Blog.

The road to the final regulations has been an arduous one, and has involved significant revisions as the IRS solicited and received feedback. The good news is the IRS listened and considerably altered many aspects from the temporary regulations. The bad news is the regulations as issued still have an unusually large scope and will affect taxpayers…

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