Header graphic for print
Tax Law Roundup current law developments in U.S. taxation

Tag Archives: Section 1411

IRS Releases FY 2017 Green Book Revenue Proposals

Posted in General, Legislative

It’s that time of year when the President releases his annual wish list of tax revenue proposals, also known as the “Green Book”.  The 2017 Green Book includes many familiar items such as taxing Carried Interests as ordinary income, capping certain itemized deductions by individuals at a 28% tax rate benefit, and broad-based international tax reform. … Continue Reading

Tax Court Decision Will Help Trusts Avoid Passive Loss Limitations and New 3.8% Tax

Posted in General, Passthrough Entity, trusts and estates

In a highly watched case of The Frank Aragona Trust v. Comm’r., the Tax Court held that it was possible for a trust to qualify for the coveted title of “real estate professional” under the Section 469 passive loss rules.  This result greatly expands the ability of trusts to avoid the passive loss deduction limitations… Continue Reading

Long-Awaited Regulations Issued on New 3.8% Net Investment Income Tax

Posted in Compensation, General, Partnership/LLC, Passthrough Entity, Real Estate

The IRS issued long-awaited proposed regulations and related FAQ guidance on the new Section 1411 3.8% tax on Net Investment Income.  The 3.8% Medicare tax is part of the tax provisions in the Affordable Care Act to pay for health care reform.  The IRS also issued proposed regulations and FAQs on the related Section 1401… Continue Reading