Washington Dysfunction to be Reflected in Your Paycheck
Excerpt from an email circulated at Anderson – in case you did not get one similar: This notice is in regards to the Social Security (OASDI) tax deducted from the January 3, 2012 paychecks. In 2010, President Obama signed into law the Tax Relief Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Included in the Act was a provision that reduced the Social Security withholding rate from 6.2% to 4.2% for 2011. This change was effective with wages paid on or after January 1, 2011 and included an expiration date of December 31, 2011. In order to comply with…