IRS Issues Final Rules On Additional Medicare Tax

Law360, New York (December 02, 2013, 5:34 PM ET) -- The Internal Revenue Service on Friday released final regulations to help employers and taxpayers comply with a new 0.9 percent Medicare tax assessed against high-earning taxpayers created under the Affordable Care Act.

Friday's regulations mostly follow proposed regulations issued in December 2012, but include a new section stating that employers who come up short on their withholdings are liable for the shortchange unless the employee pays the amount and the employer can prove the employee's payment.

The proposed regulation didn't contain the payment verification requirement, according...
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