Important Payroll Information “Expiring Payroll Tax Holiday”

Payroll Tax “Holiday” - This “holiday”, enjoyed by employees for the past two years, provided for a 4.2% employee Social Security tax withholding rate.  The employee Social Security tax rate reverted back to 6.2% effective January 01, 2013.

 

This mean your net take home pay could be on average about 2% less each pay period beginning with the January 16, 2013 pay date.

 

The January 16, 2013 pay information will be available on the web January 14, 2013.

Posted By: Gloria Boone
Date: Mon Jan 14 12:43:08 EST 2013