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Monthly Archives: February 2012

Payroll Cut Tax Extension

22 February 2012 – 9:14 pm | 1 Comment

On February 17, 2012, Congress approved the Payroll Tax Cut Extension. This legislation will extend the current 4.2% Social Security Old-Age, Survivors, and Disability Insurance (OASDI) tax rate for employees for the rest of 2012. Employers will continue to pay Social Security tax of 6.2% up to the taxable wage limit for each worker ($110,100.00 for 2012), as […]