The American Institute of Certified Public Accountants (AICPA) submitted comments in response to the proposed regulations under section 1411 of the Internal Revenue Code, regarding the new section 1411 net investment income (NII) tax. Section 1411 imposes a tax on unearned income on investments of certain individuals, estates, and trusts, whose income is above the statutory threshold amounts.

See AICPA, “Comments on Reg-130843-13 relating to guidance under section 1411, as added by the Health Care and Education Reconciliation Act of 2010, regarding net investment income tax,” (November 26, 2013).

Posted by Theodore H. Waggner, Esq., Associate Editor, Wealth Strategies Journal