Sunday, June 29, 2014

Additional Medicare Tax

Beginning January 1, 2013, employers are responsible for withholding the 0.9% Additional Medicare Tax on an employee's wages and compensation that exceeds a threshold amount based on the employee’s filing status. You are required to begin withholding Additional Medicare Tax in the pay period in which it pays wages and compensation in excess of the threshold amount to an employee. There is no employer match for the Additional Medicare Tax.
For additional information see the IRS questions and answers.

Source: IRS.gov/understanding-employment-taxes

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