Taxation Tag

On February 26, 2014, the House Ways and Means Committee Chairman Dave Camp (R-Mich.) released draft legislation called the “Tax Reform Act of 2014” (“Draft Legislation”)....

There are two components of the 2010 health care reform law that add additional Medicare taxes for high income taxpayers; a .9% increase in the Medicare tax on wages and self-employment income, and a 3.8% Medicare tax on investment income....

The American Tax Relief Act of 2012 extends for two years, through December 31, 2013, the provision allowing tax-free distributions from individual retirement accounts to public charities, by individuals age 70½ or older, up to a maximum of $100,000 per taxpayer per year....

If you employ someone to work in or around your home, age 18 or older, and pay them wages of $1,800 or more in 2012, you may be a household employer....