New Law Extends Payroll Tax Cut Throughout 2012
On February 22, 2012, the President signed into law the Temporary Payroll Tax Cut Continuation Act of 2011 (HR 3630), extending the payroll tax holiday for 160 million workers for the rest of the year.
The law also provides additional unemployment benefits for millions of Americans who are out of work. Currently, U.S. workers only have to pay 4.2 percent on the first $110,100 of their wages into the Social Security fund, instead of the normal 6.2 percent. This has been in effect since the start of 2011, but was due to end after February 29, 2012, without legislative action.
10 Changes for 2011 That Benefit Most Taxpayers
From Roth conversions to changes in reporting capital gains and losses, there were a number of tax changes in 2011 that affected taxpayers. Wondering how these changes affect you this tax season? Visit Karlins & Ramey’s website to learn more.
How to Avoid Identity Theft During Tax Season
Unfortunately, tax season is prime time for scams. From phony websites to fake IRS e-mail and the threat of computer viruses, this is a good time to be extra careful online. Learn how to avoid identity theft and how to protect yourself from scammers this tax season. Visit Karlins & Ramey’s website to learn more.
Five Hidden Reasons You Need a Will
Do you have a will? If the answer is no, you’re not alone. But if you think you don’t need a will, think again. Rich or poor, having a will is important for just about every taxpayer. Visit Karlins & Ramey’s website to learn more.