Certain High-Income Individuals Are Subject to Three Additional Medicare Taxes

question 100

True/False

Certain high-income individuals are subject to three additional Medicare taxes beginning in 2013-on wages, unearned income, and tax credits claimed.

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Definitions:

Bankruptcy

A legal process through which individuals or businesses unable to meet their financial obligations can seek relief from some or all of their debts.

Trustee

A person or organization that holds and manages assets or property for the benefit of another party, referred to as a beneficiary.

Bankruptcy Estate

All of the property and assets considered to be owned by an individual or entity at the time of their bankruptcy filing.

Personally Identifiable Information

Information that can be used on its own or with other information to identify, contact, or locate a single person.