IRS provides answers on the new 0.9% Medicare tax
To pay for health care reform, high earners—single employees earning more than $200,000 and joint filers earning more than $250,000—will pay an additional 0.9% in Medicare taxes, for a total tax rate of 2.35%, beginning Jan. 1, 2013. The IRS has issued “Questions and Answers for the Additional Medicare Tax” to provide guidance.
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