Tuesday, January 8, 2013

Payroll Tax Holiday Ended

You have probably heard by now that the Payroll Tax Holiday ended 12/31/2012. This means that employers are required to, once again, withhold 6.2% (up from 4.2%) of your earnings for  Social Security tax. You might not have noticed back in 2011 when your net pay was increased. My guess is that you will notice when your net pay decreases. Hope you enjoyed that tax holiday!

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