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Implementation of the New 3.8% Net Investment Income Tax on Individuals (Rebroadcast)


Feb 12, 2014 1:00pm ‐ Feb 12, 2014 2:15pm

Description

The new 3.8% net investment income tax (NIIT) under section 1411 will have a substantial effect on many individuals whose income is above the statutory threshold amounts. By the end of the year, the IRS is expected to finalize regulations and instructions to the draft Form 8960, Net Investment Income Tax - Individuals, Estates, and Trusts, (as of August 7, 2013). Once the rules are finalized, practitioners need to advise their individual tax clients on how to implement this new tax.

During this webcast, the speakers will provide suggestions to practitioners on how to implement and comply with this new tax as it applies in its first year. The speakers will provide a background of the NIIT and its application to individuals, including definitions of key terms, passive versus active income, and state income tax considerations. Examples will be provided. The best 10 planning strategies will be reviewed. The speakers will discuss how to prevent errors that were made in 2013 from happening in the future and planning for 2014 and later years to reduce the impact.

This webcast is free for Tax Section members and PFP Section members, inclusive of PFS credential holders, without optional CPE or discounted CPE for purchase for PFP/PFS. This webcast is available for purchase to all.

Learning Objectives:
- To provide suggestions to practitioners on how to implement and comply with this new tax as it applies in its first year.
- To provide a background of the NIIT and its application to individuals, including definitions of key terms, passive versus active income, and state income tax considerations.

Speaker(s):

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