The House legislation calls for a 90% surtax to be imposed on any bonus paid after Dec. 31, 2008, by
a company that received $5 billion or more in taxpayer dollars from the Troubled Asset Relief Program. The tax would need to be paid by any employee or former employee whose family income exceeds $250,000 ($125,000 for married recipients filing separately).
Here's how it would work: Affected individuals would calculate what their federal tax bill would be without the bonus and then add to that amount 90% of the total bonus received, said Tom Ochsenschlager, vice president of taxation at the American Institute of Certified Public Accountants
They'd need to add another 1.45% for the Medicare tax owed on the bonus, said David Lifson, president of the New York State Society of Certified Public Accountants.
http://money.cnn.com/2009/03/19/news...ion=2009031918