Free Site Registration


Senate Approves Post-Midnight Fiscal Cliff Deal, Shifting Pressure to Boehner

Print
Email
Reprints

Payroll Tax
The agreement wouldn’t avert all of the tax increases set to take effect this year. A two-percentage-point cut in the payroll tax has expired and isn’t part of the emerging deal.
That will make paychecks smaller in 2013; someone earning $50,000 and being paid twice a month will lose $41.67 per paycheck. The payroll tax cut’s expiration will end transfers from the general fund to Social Security to cover its cost.

Get access to this article and thousands more...

All Accounting Today articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, blog discussions, and conference discounts. Registered members may also choose to receive our exclusive Tax Pro Today e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.

Already Registered?

 

Follow Accounting Today
Advertisement


Advertisement
Advertisement
Advertisement