What Is The Additional Medicare Tax For 2024

What Is The Additional Medicare Tax For 2024. For high earners, the additional medicare tax amounts to an additional 0.9% on top of the standard medicare tax rate. For federal income tax withholding, the rate is 1.5% of wages.

0.18% (20% of the employee rate of 0.9%) of wages subject to additional medicare tax.  — the additional medicare tax is 0.9%, but it doesn’t apply to everyone like standard medicare tax does.