One of the revenue offsets in the Patient Protection and Affordable Care Act1 was the imposition of an unearned income Medicare tax2 after 2012 on couples filing a joint return or a surviving spouse who earns more than $250,000 ($125,000 for married taxpayers filing separately) and $200,000 for other taxpayers.3 The tax is imposed at a rate of 3.8 percent of the lesser of the taxpayer’s “net investment income” or the excess (if any) over the modified adjusted gross income for the taxable year over the threshold amount.4 On December 5, 2012, the Department of the Treasury released proposed amendments to the regulations that provide guidance for individuals, estates and trusts.5



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