Medicare tax, also known as “hospital insurance tax,” is a federal employment tax that funds a portion of the Medicare insurance program. Like Social Security tax, Medicare tax is withheld from an employee’s paycheck or paid as a self-employment tax.
Original Article Source Credits: Investopedia , https://www.investopedia.com/
Article Written By: KATHRYN FLYNN
Original Article Posted on: Mar 25, 2021
Link to Original Article: https://www.investopedia.com/medicare-tax-definition-5115380