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03 - Accounting & Taxes Accounting Help & Tax Strategies

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Old 08-12-2013, 03:19 PM
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Karen123456 Karen123456 is offline
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Smile When must an employer withhold Additional Medicare Tax

According to IRS, an employer should withhold Additional Medicare Tax on wages it pays to an employee in excess of $200,000 in a calendar year, beginning January 1, 2013. An employer has this withholding obligation even though an employee may not be liable for Additional Medicare Tax because, for example, the employee’s wages together with that of his or her spouse do not exceed the $250,000 threshold for joint return filers. Any withheld Additional Medicare Tax will be credited against the total tax liability shown on the individual’s income tax return (Form 1040).

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