ARTICLE BRIEF

Summary of article: Unearned Income Medicare Contribution Tax

Summary of article: Unearned Income Medicare Contribution Tax

Introduction

Medicare is a U.S. social insurance program that provides health coverage to seniors and disabled persons without a test of need. However, in the year 2010 a reconciliation Act came which ratify many portions of it that gave birth to few changes in the healthcare regulations. The changes in the act were the contribution of Patient Protection and Affordable Care Act. Moreover, with various amendments, creation of completely new tax came into existence by adding of Sec. 1411. Thus, the new clause by the name unearned ...