IRS Obamacare Power of the Day: Saver Surtax
Throughout the summer, Americans for Tax Reform will be highlighting the most outrageous new powers that the IRS will have under the Obamacare law. According to a report from GAO, the IRS is tasked with nearly four dozen new powers under that law. Each day, one will be selected for a brief review.
Obamacare imposes a 3.8% surtax on investment income for super-saver families. As a result, the top capital gains and dividends rate is now nearly 24%.