Thomson Reuters has released a special report focused on the 3.8 percent surtax on the net investment income tax (NIIT), which tax preparers will be calculating for the first time on 2013 returns.
The report explains key differences in the updated rules, the steps to calculating the NIIT, and various business and investment scenarios that may be affected by this tax. The report can help accountants determine which set of regulations to follow when preparing 2013 returns for affected clients.
“For 2013 returns, it is critical that tax professionals understand the complex changes presented by the NIIT so they can continue to serve in their clients’ best interests,” said Robin Christian, tax analyst at Thomson Reuters. “The report clearly and comprehensively answers fundamental questions including who owes, what income is included, and what is exempt under these new regulations.”
The special report is available online at no cost and provides Thomson Reuters insights on the new tax, including:
The report is an example of the practical, insightful information available on Thomson Reuters Checkpoint, which provides research, news, analysis and productivity tools to tax, audit, accounting, legal, trade and finance professionals.