The IRS issued this statement on February 23, 2012 regarding the Payroll Tax Extension:
“WASHINGTON — The Internal Revenue Service today released revised Form 941 enabling employers to properly report the newly-extended payroll tax cut benefiting nearly 160 million workers.
On December 23, 2011, the IRS announced that the Social Security payroll tax cuts, enacted at the beginning of 2011, would be temporarily extended into 2012. Read the entire news release:
(Alert from SHRM)
By Greta Nickerson, Xenium
By Brandon Laws, Xenium
By Greta Nickerson
Multnomah County voters narrowly pass levy to support Oregon Historical Society Museum
By Molly Hottle
Published: Tuesday, November 02, 2010, 10:00 PM Updated: Tuesday, November 02, 2010, 10:30 PM
The Social Security Administration (SSA) announced on Wednesday, October 17, 2007, that the 2008 social security wage base will be $102,000, an increase of $4,500 from the 2007 wage base of $97,500. As in prior years, there is no limit to the wages subject to the Medicare tax; therefore, all covered wages are still subject to the 1.45 percent tax.