Instructions for IRS Form 8959 Additional Medicare Tax

IRS Form 8959 Additional Medicare Tax

This document contains official instructions for IRS Form 8959 , Additional Medicare Tax - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8959 is available for download through this link.

FAQ

Q: What is IRS Form 8959?
A: IRS Form 8959 is a form used to calculate and report the Additional Medicare Tax.

Q: Who needs to file IRS Form 8959?
A: You need to file IRS Form 8959 if you earned wages or self-employment income that is subject to the Additional Medicare Tax.

Q: What is the Additional Medicare Tax?
A: The Additional Medicare Tax is a tax that applies to individuals with higher incomes. It is an additional 0.9% tax on wages, self-employment income, and railroad retirement (RRTA) compensation.

Q: How do I calculate the Additional Medicare Tax?
A: To calculate the Additional Medicare Tax, you need to determine your wages, self-employment income, or RRTA compensation subject to the tax and multiply it by 0.9%.

Q: Are there any exemptions from the Additional Medicare Tax?
A: There are no exemptions from the Additional Medicare Tax. However, there is a threshold based on your filing status (e.g., $200,000 for single filers) at which the tax applies.

Q: What happens if I don't file IRS Form 8959?
A: If you are required to file IRS Form 8959 and you fail to do so, you may be subject to penalties for underpayment of the Additional Medicare Tax.

Q: Can I e-file IRS Form 8959?
A: Yes, you can e-file IRS Form 8959 along with your federal income tax return.

Q: When is the deadline to file IRS Form 8959?
A: The deadline to file IRS Form 8959 is the same as the deadline to file your federal income tax return, typically April 15th for most taxpayers.