Hidden provisions in the Extended Payroll Tax Cut

By elitecpas | February 27, 2012 | Comments Off on Hidden provisions in the Extended Payroll Tax Cut
siccors cutting payroll taxes

Payroll Tax Cut Extended for All of 2012   On February 22, 2012, the Temporary Payroll Tax Cut Continuation Act of 2011 was permanently extended for all of 2012. This extends the two percentage point payroll tax cut for employees, continuing the reduction of their social security tax withholding rate from 6.2 percent to 4.2…

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