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Medicare

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Final Regulations Issued on Implementation of Additional Medicare Tax

The IRS has issued final regulations on the operation of the 0.9 percent additional Medicare tax, which became effective on January 1, 2013. Generally, the final are effective on or after November 29, 2013. However, taxpayers may rely on rules contained in the proposed regulations for adjusted returns filed before that date.

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Is There a New 3.8% Sales Tax on Real Estate?

We were asked:

I am trying to find out if it is true that homeowners selling after Jan 1 2013 will have to pay a 3.8% sales tax on their sale. I have asked a couple of realtors but on one can give me an answer. I get emails all the time claiming that this is a part of Obamacare in order to pay for it.

We get this question all the time. There was an extremely popular email that claimed such, and the idea gained new life as 2013 rolled around.

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