Medicare tax

Definition

Tax deducted from the wages of every legally working American that is used to pay for the Medicare program provided to individuals over the age of 65. This is typically another line item included on an employee's paystub. At the end of year, the employer will provide the employee with a W-2 and this will include the total amount deducted from the individual's paycheck for the Medicare tax. The tax was implemented under the Federal Insurance Contributions Act.
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W-2AS Form W-2GU Form