Additional Medicare Tax for High Earners

This page features the following topics on the Additional Medicare Tax for High Earners:

• Overview 
• Basic FAQs 
• Employer FAQs 
• Employee FAQs 
• Additional Information 
•  

Overview

For taxable years beginning after December 31, 2012, employers are required to withhold Additional Medicare Tax (at a rate of 0.9%) on wages or compensation paid to an employee in excess of $200,000 in a calendar year.

Effective November 29, 2013, final rules provide guidance for employers relating to the implementation of Additional Medicare Tax, including the employer process for adjusting underpayments and overpayments of the tax and for filing a claim for refund for an overpayment.

   visit: http://www.firststepfirst.co.in