REAL MONEY Payroll Tax Cut Provides Employers with Teachable Moment
Thanks to Congress extending the payroll tax cut, millions of Americans will continue to receive a fatter paycheck. However, a recent National Foundation for Credit Counseling (NFCC) poll revealed tha... Posted on 2/27/12 at 10:49 AM
IN THE BLACK Payroll Tax Cut Extension
The Temporary Payroll Tax Cut Continuation Act of 2011 has been temporarily extended until February 29, 2012. With the Act, the Social Security tax withholding rate was reduced from 6.2 percent to 4... Posted on 1/16/12 at 8:09 AM
Americans are getting an election-year tax present. Congress voted with rare speed and cooperation Thursday to extend a Social Security payroll tax cut for 160 million workers and to renew unemployment benefits for millions more who haven't seen a paycheck in six months.
House-Senate talks on renewing a payroll tax cut that delivers about $20 a week to the average worker yielded a tentative agreement Tuesday, with lawmakers hopeful of unveiling the pact Wednesday and sending the measure to President Barack Obama as early as this week.
Careening toward a politically toxic tax hike, President Barack Obama implored House Speaker John Boehner Wednesday to get behind a two-month stopgap until a longer deal could be struck early next year, calling it the only real way out of a mess that is threatening the paychecks of 160 million workers and isolating House Republicans.
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