2011 Payroll Tax Reduction Ending This Year

    Paula Fulghum
    The payroll tax cut enacted in 2011, reducing the social security tax rate by 2%, is set to expire at the end of 2012.  Beginning with the first paycheck in 2013, your staff’s social security tax rate will 
    increase from 4.2% to 6.2%. We recommend that you notify your employees now that this tax rate is changing in January so they may plan ahead and are not surprised by the change. 

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