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  • Irs 8959 2020

Get Irs 8959 2020-2025

For instructions and the latest information. Go Name(s) shown on return Part I 1 2 3 4 5 6 7 8 9 10 11 12 13 15 16 17 20 21 22 23 24 Additional Medicare Tax on Railroad Retirement Tax Act (RRTA) Compensation 6 7 12 13 16 17 Total Additional Medicare Tax Add lines 7, 13, and 17. Also include this amount on Schedule 2 (Form 1040), line 8 (check box a) (Form 1040-PR or 1040-SS filers, see instructions), and go to Part V . . . . . . . . . . . Part V 19 Additional Medicare Ta.

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Form 8959 (Additional Medicare Tax) is used to figure the additional 0.9% percent Medicare tax on the portion of wages, self-employment, and railroad retirement income that exceeds a certain threshold ($200,000 for individuals, $250,000 for spouses filing jointly, and $125,000 for spouses filing separately).

Under this mandate, in addition to withholding Medicare tax at 1.45%, employers must withhold a 0.9% Additional Medicare Tax from wages paid to an employee once earnings reach $200,000 in a calendar year. ... Additional Medicare Tax is only imposed on the employee.

When a portion of an individual's wages will be subject to the additional tax, but earnings from a particular employer do not exceed the $200,000 threshold for withholding of the tax by the employer, the employee is responsible for calculating and paying the additional 0.9% Medicare tax.

The additional 0.9 percent Medicare tax on wages above $200,000 for individuals ($250,000 married filing jointly), which went into effect in 2013, remains in effect for 2018, as does the Medicare tax of 3.8 percent on investment (unearned) income for single taxpayers with modified adjusted gross income (AGI) more than ...

There is a maximum amount of compensation subject to the OASDI tax, but no maximum for HI. For 2019, the FICA tax rate for employers is 7.65% 6.2% for OASDI and 1.45% for HI. For 2019, an employee will pay: 6.2% Social Security tax on the first $132,900 of wages (maximum tax is $8,239.80 [6.2% of $132,900]), plus.

For 2019, an employee will pay: 6.2% Social Security tax on the first $132,900 of wages (maximum tax is $8,239.80 [6.2% of $132,900]), plus. 1.45% Medicare tax on the first $200,000 of wages ($250,000 for joint returns; $125,000 for married taxpayers filing a separate return), plus.

Medicare payroll tax on earned income The Medicare payroll tax is 2.9%. It applies only to earned income, which is wages you are paid by an employer, plus tips. You're responsible for 1.45% of the tax, and it's deducted automatically from your paycheck. Your employer pays the other 1.45%.

If your withholding is more than the tax you owe, then you can claim a refund for the difference. ... In addition to income tax withholding, your employer will also withhold payroll taxes for Social Security and Medicare. Employees pay 6.2% of their wages in Social Security taxes and 1.45% in Medicare taxes.

Railroad retirement (RRTA) compensation should be separately compared to the threshold. Your employer is responsible for withholding the 0.9% Additional Medicare Tax on your Medicare wages or railroad retirement (RRTA) compensation paid in excess of $200,000 in a calendar year.

The Additional Medicare Tax applies to wages, railroad retirement (RRTA) compensation, and self-employment income over certain thresholds. Employers are responsible for withholding the tax on wages and RRTA compensation in certain circumstances.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232