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IRS Releases Draft of Form 8960 Net Investment Income Tax, the 3.8% Medicare Tax for 2013

August 15, 2013 by OSYB Staff

The first draft of the new IRS Form 8960 was released on 08/07/2013. This is the form for the new Net Investment Income Tax or the Medicare Tax. This tax is intended to help fund “Obamacare”. The 3.8% tax will be levied on individuals, estates and trusts if incomes are above the threshold. 

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