Medicare Withholding Tax to Increase to 30 Percent
Healthcare providers, physicians, and suppliers who owe federal taxes will see a substantial increase in the amounts the Centers for Medicare & Medicaid Services (CMS) withholds in their Medicare payments, beginning June 19, 2015.
CMS recently announced its implementation of the Tax Increase Prevention Act of 2014, which mandates an increase of the tax levy to 30 percent, up from the current 15 percent.
The tax levy is continuous until the overdue taxes are paid in full, or other arrangements are made to satisfy the debt.
Source: MLN Matters® article MM9154
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