Employee Social Security Rate Holiday is Set to Expire December 31, 2011
Posted on December 6, 2011
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law on December 17, 2010 reducing the employee social security rate from 6.2% to 4.2% for tax year 2011. This reduction is set to expire on December 31, 2011 unless extended by congress. Paycor is closely monitoring any potential legislative changes and will post additional information as it becomes available.