In: Accounting
The 3.8% additional Medicare surtax is paid by employees on their wages in excess of $250,000 MFJ ($200,000 Single, $125,000 MFS), while the 0.9% additional Medicare tax is paid on the lesser of net investment income or modified adjusted gross income (MAGI) over certain threshold amount (MFJ $250k, MFS $125k, Single $200k).
True
False
The answer is False
The 3.8% additional Medicare surtax is paid by employees on their wages in excess of $250,000 MFJ ($200,000 Single, $125,000 MFS), while the 0.9% additional Medicare tax is paid on the lesser of net investment income or modified adjusted gross income (MAGI) over certain threshold amount (MFJ $250k, MFS $125k, Single $200k).