Medicare tax

Tax

Social Security Wage Base Projected at $115,500 for 2014

The Social Security Administration (SSA) Office of the Chief Actuary (OCA) has projected that the Social Security wage base will increase from $113,700 for 2013 to $115,500 for 2014.
Tax

IRS Asked to Clarify Rules for New Medicare Surtax

Critics are calling for the IRS to clarify certain rules relating to the new 3.8 percent Medicare surtax on net investment income (NII) that kicks in this year. Proposed regulations were issued in December, but advocates of business owners and estates have asked the IRS to shed more light on several murky areas.
Tax

AICPA Offers Heads Up on New Medicare Taxes

The American Institute of CPAs (AICPA) hosted a conference call January 17 to discuss compliance and planning issues surrounding the new 3.8 percent Medicare surtax that kicks in this year.
Tax

IRS Q&A: Additional Medicare Tax

This Q&A from the IRS will provide employers and payroll service providers information that will help them as they prepare to implement Additional Medicare Tax which goes into effect in 2013.

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