• Congress Extends Payroll Tax Cut

    Congress Extends Payroll Tax Cut

    Date : Friday, February 24, 2012

    On February 17th, Congress voted to extend the Tax Relief Act of 2012 through the end of 2012. The legislation extends the reduction of the social security tax rate paid by employees from 6.2% to 4.2%, providing a 2% overall tax break to employees. This reduction has been in effect since July 1, 2011. ..

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