
Tax Update as of 12/14/2012
As the stalemate on taxes continues between President Obama and Speaker Boehner… Look at two tax hikes that will apply in 2013, regardless of the outcome of the current negotiations. IRS has issued guidance on these Medicare surtaxes for upper-incomers…a 3.8% tax on unearned income and a 0.9% levy imposed on their earned income.