Understanding IRS Guidance on Additional Medicare Tax
Effective January 2013, taxpayers whose income exceeds the threshold amount will be subject to additional 0.9 percent Medicare Tax. This is in accordance with the proposed regulations issued by the Internal Revenue Service (IRS) on November 30, 2012 referred to as Additional Medicare Tax. The Regs aim to help employers and payroll service providers, understand and implement the tax increase. The question now is how significantly will the increase affect employers and tax payers in the long run?
In this Live Webcast, a panel of the key thought leaders and practitioners will address the following key issues:
– Overview of the Additional Medicare Tax
o Calculating the Tax
o Withholding Issues; and
o Adjustment and Refund Claims
– Discussion on the guidance and FAQs provided by the IRS
– Avoiding Pitfalls and Costly Fines: Best Practices in Preparing for and Implementing the Tax Increase
– Other Significant Issues and Up to the minute updates
Join this 2-hour Live Webcast brought to you by The Knowledge Group and take away ideas that will help you learn and understand the implications of Additional Medicare Tax. The program will cover the topics above along with a Q&A panel in which the attendees will be invited to ask the speakers questions.
Jesica Speer, Tax Manager,
The interaction with the foreign tax credit
- The need to account for the net investment income tax liability in making estimated tax payments
- What deductions can be used to offset net investment income
David Erard, Partner,
Holthouse Carlin & Van Trigt LLP
- section 469 passive activity rules – overview
- interaction of sections 469 and 1411
- overview of section 1411 rules
- “baskets” of income, gain, loss, and deduction items under section 1411
- real estate professional status
Who Should Attend:
- Accountants, CPAs, Enrolled, Agents & Tax Preparers
– Tax Attorneys
– Tax Advisers
– Finance Executives
– And Other Interested Professionals
Jesica is an experienced manager in the Federal tax practice of the Chicago office of Grant Thornton. She has more than 10 years experience in public accounting where she has served as a trusted business advisor to closely-held, multinational businesses and their owners by developing and implementing income and transfer tax savings strategies, creating awareness of technical issues associated with ownership changes and offering clear guidance surrounding related tax and legal consequences, as well as providing a variety of private wealth services.
Jesica is an experienced manager in the Federal tax practice of the Chicago office of Grant Thornton. She has more …
David brings well over ten years of experience to HCVT, with his expertise focusing primarily on private equity clients with real estate-related businesses and investments. David’s clients include homebuilders, condo converters, rental real estate operators, hotel operators, real estate opportunity funds and other real estate businesses.
Among other things, David has experience addressing partnership agreement provisions, special allocations in partnerships, revaluations of partnership property, partnership allocations under Section 704(c), the application of Section 199 to partnerships, state and local tax issues faced by partnerships, accounting methods available to homebuilders, inbound and outbound transactions, and structuring of partnership transactions.
Prior to joining HCVT, David spent approximately five years in the Orange County office of KPMG and two years in KPMG’s Washington National Tax (WNT) office in Washington, D.C. At the WNT office, David was a member of the pass-through entity group, focusing primarily on income tax issues related to partners and partnerships.
David began his public accounting career earning a master’s degree in accountancy with a tax emphasis from Brigham Young University.
David brings well over ten years of experience to HCVT, with his expertise focusing primarily on private equity clients with …
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Method of Presentation:
On-demand Webcast (CLE)
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About Grant Thornton
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About Holthouse Carlin & Van Trigt LLP
HCVT is the largest CPA firm, as measured by revenue, headquartered in Southern California. It is also among the fastest growing CPA firms in the region. HCVT’s national recognition includes: Top 100 CPA firms by Inside Public Accounting, Top 100 CPA firms by Accounting Today, and named on the Top 25 “Best of the Best” list by Inside Public Accounting for 7 consecutive years.