Another tax increase for 2013 is the
Medicare tax. This is called the "Additional Medicare
Tax". It is a 0.9% tax rate that will be
applied to income above the following thresholds.
-Married filing jointly
- $250,000 -Married filing separately - $150,000
-Single
- $200,000 -Head of household
- $200,000 -Qualifying person
- $200,000
This increase only applies to the
employee portion of the medicare tax. Employers must
make the appropriate withholding for any employee who is
subject to this tax.
More details can be found at the
IRS Q&A webpage.
|