The American Institute of CPAs has sent a comment letter to the Internal Revenue Service and the Treasury Department highlighting potential problems for international tax entities from the IRS’s proposed regulations related to the net investment income tax.
The net investment income tax imposes a tax on unearned income on investments of certain individuals, estates and trusts, whose income is above the statutory threshold amounts. The Health Care and Education Reconciliation Act of 2010 added the net investment income tax to the Tax Code as Section 1411. The IRS has just releaaed a draft version of the form, according to Forbes.
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