Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

What's New This Year

Taxes and Credits

Net Investment Income Tax and Additional Medicare Tax

A net investment income tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. This topic is out of scope for the VITA/TCE programs. Taxpayers affected by the net investment income tax should be referred to a professional tax preparer. Additional information can be found on www.irs.gov.


Additional Medicare Tax

Additional Medicare tax applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status. This topic is out of scope for the VITA/TCE programs. Taxpayers affected by the additional Medicare tax should be referred to a professional tax preparer. Additional information can be found on www.irs.gov.