Net Investment Income Tax Instructions

Effective January 1, 2013, Congress instituted a Net Investment Income Tax.

This tax is computed on Form 8960, which is attached to an individual, estate, or trust return.

On February 26, 2014, the IRS released the instructions for this one-page form.

The instructions run twenty pages!

These are the links for the form and instructions.

IRS Circular 230 Disclosure

Pursuant to IRS Regulations, we inform you that any tax advice provided or implied on this post (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be imposed on the taxpayer.

While the information contained in this post is believed to be reliable, we cannot guarantee its accuracy or completeness.

Review Withholding/Estimates to Avoid Tax-Day Surprise

Some people are surprised to learn they’re due a large federal income tax refund when they file their taxes. Others are surprised that they owe more taxes than they expected. When this happens, it’s a good idea to check your federal tax withholding or estimated payments. Doing so now can help avoid a tax surprise when you file your 2013 tax return next year.

Here are some tips to help you bring the tax you pay during the year closer to what you’ll actually owe.