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Video instructions and help with filling out and completing Additional medicare tax withholding 2022
Starting in 2022 you may be liable for an additional medicare tax if your income exceeds certain limits here are six things that you should know about this tax one the additional medicare taxes point nine percent it applies to the amount of your wages self-employment income and railroad retirement compensation that is more than this threshold amount the threshold amount that applies to you is based on your filing status if you're married and file a joint return you must combine your spouse's wages compensation or self-employment income with yours to determine if you exceed the married filing joint threshold here are the thresholds if your filing status amount for a married filing joint as more than two hundred fifty thousand dollars you'll be subject to this married filing separately 125 thousand dollars single two hundred thousand dollars head of household two hundred thousand dollars in qualifying widower with a dependent child two hundred thousand dollars three you must combine wages and self-employment income to determine if your income exceeds the threshold you do not consider a loss from self-employment when you figure this tax you must compare your railroad retirement compensation separately from to the threshold form 89 59 additional medicare tax provides these instructions and for employers must withhold this tax from your wages or compensation when they pay you more than two hundred thousand dollars in a calendar year without regard to your filing status wages paid to you by another employer or income that you may have from other sources your employer does not combine the wages for married couples to determine whether to it withhold additional medicare tax number five you may owe more tax than the amount withheld depending on your filing status and other income in that case you should make estimated tax payments or request additional income tax withholding using form w-4 employees withholding allowance certificate if you had too little tax or did not pay enough estimated taxes you may owe an estimated tax penalty if you owe this tax file form 89 59 with your tax return you may also report additional medicare tax withheld from your employer on Form 89 59 call us if we can help you with any of this I know it's a very difficult tax to calculate you.