by Tax Rascal
Categories: Business, Economy, Featured, Personal Finance, Politics, Tax News, Tax Policy, Uncategorized
When Nancy Pelosi was Speaker of the House, she famously quipped that Congress would have to pass the 2010 omnibus healthcare bill in order to find out what was in it. Congress complied, and now America is starting to find out what is inside the bill come law: taxes, taxes and more taxes.
The Internal Revenue Service recently released new rules for investment income taxes on capital gains and dividends earned by so-called “high income” payers.
Enter: the first surtax to be applied to capital gains and dividend income at 3.8%. But the surtax is more complicated than it seems, because it applies to a broad range of investment securities such as stocks, bonds, commodity securities, specialized derivatives and more.… Read more...