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
* $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.
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