Are you in line for the tax?
By Russ Wiles
The Arizona Republic
It’s not quite up there with alligators living in sewers, but an urban legend is forming around a provision of the Affordable Care Act recently upheld by the Supreme Court.
The health-care legislation touted by President Barack Obama includes a provision that could result in a partial capital-gain tax on homes sold by a small number of taxpayers. But e-mail blasts claiming all transactions would be subject to a housing sales tax are inaccurate, experts say.
At issue is the new 3.8 percent tax on the investment earnings of upper-income households. This provision, designed to help fund Medicare, will take effect in January unless Republicans in Congress can follow through on vows to scuttle it.
Also:
Ambiguity in Health Law Could Make Family Coverage Too Costly for Many/The New York Times
If interested in discussing real estate, you can contact Jordan Rose, RLG founder, managing partner, @jrose@roselawgroup.com
If interested in discussing health care law, you can contact David Weissman, director of RLG’s Employment Law Department, @ dweissman@roselawgroup.com
