Important Information About Medicare Taxes In 2016

This article discusses how there will be no adjustments to the Medicare tax that people will have to pay in 2016.  In the Affordable Care Act (ACA) congress had imposed a 0.9 percent tax on high income earners called the “Additional Medicare Tax” to help cover ACA costs.  Because of the low rate of inflation the baseline that triggers the additional tax will not be changed for the year 2016.  This might not be good news for some high income taxpayers because a bump in the baseline could have subjected less of their income to the tax.  This article provides the reader with a chart showing which income levels for both married and single taxpayers will trigger the additional Medicare tax. 

See Brian Stoffel, What You Need to Know About Medicare Taxes in 2016, My San Antonio, May 1, 2016.