Sunday, December 2, 2012

IRS issues guidance regarding the 3.8% medicare tax on net investment income

IRS issued guidance regarding the 3.8% medicare tax on net investment income.



IRS issues guidance on Additional Medicare Tax

The Additional Medicare Tax applies to individuals’ wages, other compensation, and self-employment income over certain thresholds; employers are responsible for withholding the tax on wages and other compensation in certain circumstances.

The IRS issued guidance on November 30, 2012.