Amid all of the worry about looming Medicare cuts, here’s a kernel of good news: President Obama has repealed the 3% pre-payment tax withholding that would have applied to your Medicare payments. The repeal law, titled “3% Withholding Repeal and Job Creation Act” and signed Nov. 21, kills a little known change in the tax law that would have withheld 3% of your Medicare reimbursements and applied it to your federal taxes owed for that year.
To read the full article, sign in and subscribe to the DecisionHealth Newsletters.