With a Fiscal Cliff Looming Ahead, What Do You Need to Know?
Category: MONEY
The Temporary Payroll Tax Holiday, a two percent reduction in employee Social Security tax withholding, expired Dec. 31, 2012. Beginning Jan. 2013, the average taxpayer will see as much as a $1,000 decrease in take-home pay.
By Mark A. Steber, Contributor
Chief Tax Officer, Jackson Hewitt Tax Service, 2012-12-05