A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent 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.
The threshold amounts are:
$250,000 for married taxpayers who... file jointly,
$125,000 for married taxpayers who file separately, and
$200,000 for all other taxpayers.
An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year.
Related Links:
http://www.gpo.gov/fdsys/pkg/
http://www.irs.gov/Businesses/
The threshold amounts are:
$250,000 for married taxpayers who... file jointly,
$125,000 for married taxpayers who file separately, and
$200,000 for all other taxpayers.
An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year.
Related Links:
http://www.gpo.gov/fdsys/pkg/
http://www.irs.gov/Businesses/
