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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 579
Experience:  10 years experience
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I have received a notice from the IRS taxes

Customer Question

I have received a notice from the IRS for additional taxes due, however, when I tried to reconcile their listings against mine I found some differences that I can not account for.
The IRS stated in a line item on their explanation a Medicare Tax Withheld of $7245, and they stated that only $5581 was shown on the return.
Where would this amount be entered on my tax return. I'm baffled.
Submitted: 9 months ago.
Category: Tax
Expert:  USTaxAdvising replied 9 months ago.
The only thing that comes to mind is the Net Investment Income tax which is approximately 3% and is basically a tax to help fund Medicare. Perhaps the amount is related to something related to your investment income? Perhaps a Schedule K1?