News & Analysis as of

Internal Revenue Service 3.8% Medicare Tax

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Shumaker, Loop & Kendrick, LLP

Tax Planning for the “New Normal”

Effective January 1, 2013, the American Taxpayer Relief Act of 2012 (“ATRA”) was enacted into law, finally settling years of debate over the fate of the Bush era tax cuts. On the same day, the 3.8% Medicare Tax on net...more

Morgan Lewis

IRS Guidance on Additional Medicare Tax

Morgan Lewis on

As the effective date for the tax increase approaches, employers and payroll service providers should evaluate their obligations and prepare policies for compliance. In June, the Internal Revenue Service (IRS) issued...more

Jaburg Wilk

You May Owe Additional Medicare Taxes in 2013

Jaburg Wilk on

Health care reform creates new taxes, which you may be unaware of and yet still liable for. In 2012, there is a new tax imposed under the 2010 Health Care Act, as amended by the 2010 Health Care Reconciliation Act. This new...more

Mintz - Employment, Labor & Benefits...

IRS Issues Q&As on the Additional Medicare Tax under the Affordable Care Act

Social Security and Medicare are funded in large part through payroll taxes imposed by the Federal Insurance Contributions Act or “FICA.” FICA imposes a tax of 15.3% on “wages,” which is paid by the employer and by employees,...more

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