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Tax Alert: Planning for New Taxes Scheduled for 2013 Can Begin Now


It is not too early to begin planning for new taxes scheduled to appear in 2013.This alert focuses on two new taxes Congress enacted to pay for part of the cost of the 2010 healthcare reform legislation, the Affordable Care Act.

Assuming the Supreme Court does not reject the healthcare law in its entirety, a new 0.9 percent hospital insurance ("HI") tax will apply to earned income and another new 3.8 percent unearned income Medicare contribution ("UIMC") tax will apply to investment income.

This alert explains:

  • the additional HI tax on earned income;
  • the new UIMC tax on net investment income; and
  • planning strategies

Read more.

Circular 230 Notice: In compliance with U.S. Treasury Regulations, the information included herein (or in any attachment) is not intended or written to be used, and it cannot be used, by any taxpayer for the purpose of i) avoiding penalties the IRS and others may impose on the taxpayer or ii) promoting, marketing, or recommending to another party any tax related matters.

This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and J.H. Cohn LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

Published date: 5/31/2012

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