Our partner in the Tax and Wealth Planning Group Owen Knopping recently sent us the first draft of the New Medicare Tax Form (#8959). Although it is boldly stamped as a draft it is a useful tool to have when calculating the tax as it captures how the IRS sees the tax calculated.
The tax is in effect now and Form 8959 in its final version will be part of the package we will be getting in January when tax season begins. As of August 6, the calculation is set forth like this:
To view the full text of this article please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.