IRS Asks for Public Comment on Form Used to Calculate Net Investment Income Tax

The IRS seeks public comment on new Form 8960, which allows individuals, estates, and trusts to compute a 3.8% tax that will be reported on their U.S. income tax returns, according to a notice in the July 29 Federal Register

Form 8960, Net Investment Income Tax—Individuals, Estates, and Trusts, is a dual-purpose form that allows certain individuals, estates, and trusts to compute a 3.8% tax that must be reported on Form 1040, U.S. Individual Income Tax Return, or Form 1041, U.S. Income Tax Return for Estates and Trusts.

In other July 29 Federal Register notices, IRS asks for comment on: ...