categorization
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Starting in 2013, the Internal Revenue Code and the Internal Revenue Service (IRS) imposed a 3.8% tax on certain net investment income. Called the net investment income tax (NIIT), it affects individuals, estates, and trusts that have income above a certain limit. To file and pay your NIIT, you must first identify what net investment income is and whether you must pay taxes on it. If you do, you must report your tax liability to the IRS on your annual income tax return.<ref>https://www.irs.gov/uac/newsroom/net-investment-income-tax-faqs</ref> | Starting in 2013, the Internal Revenue Code and the Internal Revenue Service (IRS) imposed a 3.8% tax on certain net investment income. Called the net investment income tax (NIIT), it affects individuals, estates, and trusts that have income above a certain limit. To file and pay your NIIT, you must first identify what net investment income is and whether you must pay taxes on it. If you do, you must report your tax liability to the IRS on your annual income tax return.<ref>https://www.irs.gov/uac/newsroom/net-investment-income-tax-faqs</ref> | ||
| + | [[Category:Taxes and Fees]] | ||
== Steps == | == Steps == | ||
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