Fast Tax Refunds in Birmingham, AL: Proposed regulations issued on Additional Medicare Tax

A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individual’s wages, Railroad Retirement Tax Act compensation and self-employment income that exceeds a threshold amount based on the individual’s filing status.

The threshold amounts are:

• $250,000 for married taxpayers who file jointly
• $125,000 for married taxpayers who file separately
• $200,000 for all other taxpayers

An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. 

Info source www.irs.gov

MOORE'S SERVICES, LLC

2160 Green Springs Hwy, S. Suite E. 

Brimingham, AL 35205

Phone: (205) 324-8753

Email: mooresservices1@gmail.com

Website: www.mooresservicesonline.com

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