What is the Additional Medicare Tax and Who Pays It?
On Nov. 26, 2013, the IRS issued final regulations implementing the Additional Medicare Tax (AMT) as added by the Affordable Care Act (ACA). Some taxpayers may be required to pay an Additional Medicare Tax if their income exceeds certain limits. Here are some things that you should know about this tax: Tax Rate. The Additional […]
2016 Inflation Adjustments for Tax Benefits Announced
For tax year 2016, the Internal Revenue Service today announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2015-53 provides details about these annual adjustments. The tax items for tax year 2016 of greatest interest to most taxpayers include the following dollar […]
