
The Middle Class Tax Relief and Job Creation Act of 2012, enacted this week, extended the payroll tax cut through the end of 2012. Social Security taxes paid by workers will remain at 4.2% instead of reverting to 6.2% on March 1, 2012. Please refer to Hutchinson and Bloodgood LLP's Payroll Newsletter for the payroll tax rates to be in place for 2012.
Payroll Newsletter 2012