DecisionHealth, DecisionHealth - 2011 Issue 12 (December)

Obama repeals controversial tax withholding law

Amid all of the worry about looming Medicare cuts, here’s a kernel of good news: President Obama has repealed the 3% pre-payment tax withholding that would have applied to your Medicare payments.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.

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