With 2013 just around the corner, questions have been asked by our customers as to what the 3.8% tax is that the federal government enacted as part of the healthcare reform law. Much information pertaining to the tax that becomes effective in 2013 is the result of rumor. Some of the misconceptions about the application of the tax are that it directly affects real estate or it is a form of a transfer tax.
To help our customers better understand what the tax is and how it will be applied, we gathered information from the National Association of Realtors (NAR). To learn more about the tax, you can view the NAR’s Top Ten Things You Need to Know about the 3.8% Tax as well as an informative video and article called, ‘3.8% Tax: What’s True, What’s Not.’