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Net Investment Income Tax

05.06.14

The has given pause to many high-income Americans living and working outside the United States who are filing their personal income tax returns for tax year 2013. Without guidance on whether the NIIT is a social security tax or an income tax, many Americans are confused whether they are exempt or must pay this new tax that was enacted to help fund 2010’s health care reform legislation. An article by Kevyn Nightingale, CPA, CA, TEP provides more detail on the NIIT to help American tax payers determine what they should do.