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IRS 8959 2013 free printable template

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Form 8959 Department of the Treasury Internal Revenue Service Additional Medicare Tax OMB No. 1545-0074 If any line does not apply to you, leave it blank. See separate instructions. ? Attach to Form
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How to fill out IRS 8959

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How to fill out IRS 8959

01
Obtain IRS Form 8959 from the IRS website or your tax software.
02
Fill in your name and Social Security number at the top of the form.
03
Review your income sources to determine if you are required to pay Additional Medicare Tax.
04
Input your wages, compensation, and self-employment income on line 1.
05
Calculate the total based on the thresholds (over $200,000 for single filers, $250,000 for married filing jointly) and input it on line 2.
06
Calculate the Additional Medicare Tax by applying the 0.9% rate on the excess amount over the threshold on line 3.
07
Total the Additional Medicare Tax on line 4 and ensure your calculations are correct.
08
Attach Form 8959 to your tax return when filing.

Who needs IRS 8959?

01
Individuals with wages or self-employment income exceeding the threshold amounts.
02
High-income earners who are subject to the Additional Medicare Tax.
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You should file form 8959 if one or more conditions are met as follows: Medicare wages and tips are greater than $200,000. Retirement income (RRTA) compensation is greater than $200,000. Medicare wages, tips, and self-employment income are greater than threshold amount for your filing status (see table below).
As of 2013, the IRS requires higher-earning taxpayers to pay more into Medicare. The extra tax was announced as part of the Affordable Care Act and is known as the Additional Medicare Tax. The tax rate for the Additional Medicare Tax is 0.9 percent. That means you'll pay 2.35 percent if you receive employment wages.
The tax applies to wages from employment, self-employment income and railroad retirement income, but if you are receiving W-2 income, the tax will most likely be withheld from your wages. Either way, anyone subject to the tax is required to file Form 8959 with their annual income tax filing.
Purpose of Form Use Form 8959 to figure the amount of Additional Medicare Tax you owe and the amount of Additional Medicare Tax withheld by your employer, if any. You will carry the amounts to one of the following returns.
Therefore, even if your employer withheld the 0.9% Additional Medicare Tax from your wages or compensation above the $200,000 withholding threshold, you must file Form 8959, Additional Medicare Tax, to ensure that you are reporting and paying the correct amount.
Beginning in 2013, the employee portion of the Medicare tax is increased from 1.45% to 2.35% on wages received in a calendar year in excess of $200,000 ($250,000 for married couples filing jointly; $125,000 for married filing separately) (Sec.
Wages, RRTA Compensation, and Self-Employment Income An individual will owe Additional Medicare Tax on wages, compensation and self-employment income (and that of the individual's spouse if married filing jointly) that exceed the applicable threshold for the individual's filing status.

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IRS Form 8959 is used to report Additional Medicare Tax for individuals with wages, compensation, or self-employment income over a certain threshold.
Individuals with wages, compensation, or self-employment income exceeding the threshold for Additional Medicare Tax, which is $200,000 for single filers and $250,000 for married couples filing jointly, are required to file IRS Form 8959.
To fill out IRS Form 8959, you need to report your total wages and self-employment income and calculate the Additional Medicare Tax owed based on the income exceeding the threshold. The form must then be submitted along with your income tax return.
The purpose of IRS Form 8959 is to calculate and report the Additional Medicare Tax imposed on higher-income individuals, ensuring that the appropriate amount is collected for Medicare.
IRS Form 8959 requires reporting total wages, compensation, self-employment income, and the amount of Additional Medicare Tax due based on income over the established thresholds.
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