Overview
The Additional Medicare Tax started operating in 2013. People who earn more than $200,000 as singles or $250,000 as a couple will pay an extra 0.9 percent tax on Medicare. The extra tax is used to fund the operations of the Affordable Care Act. It would help to know that the additional Medicare Tax is a 0.9 percent tax added to the normal tax payment for Medicare. It has been in operation since 2013 and is part of the Affordable Care Act. You must earn a certain amount of money to be subjected to this extra payment.
In this article, we will discuss some important things about this additional Medicare Tax, such as the rules, rates, and other vital terms.