On November 30, 2012, the Internal Revenue Service ("IRS") released proposed regulations and two sets of frequently asked questions implementing two new Medicare taxes under the Patient Protection and Affordable Care Act...more
Tax rates for highly compensated individuals will increase in 2013, perhaps substantially. This is due in part to:
- Possible expiration in 2013 of the Bush tax cuts, resulting in increases in the highest marginal tax...more
Beginning with wages paid in 2013, an additional 0.9% Medicare tax rate will apply to single employees who earn more than $200,000 and to married couples who file joint tax returns and earn more than $250,000. For high...more
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