Quote:
Originally Posted by theking
It is my understanding that payroll taxes have been reduced.
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Yes, there was a $400 payroll tax deduction for individuals and $800 for married couples. Rates were unchanged which means (depending on withholdings) some could be paying taxes next year when they weren't expecting to pay taxes. Shouldn't be too much of a problem though they did update the tax tables and Human Resource departments are typically pretty good at getting the withholdings right. 10% will probably be unhappy because small business owners aren't as good doing withholdings and don't keep up with changes until tax time comes.
I rarely support Obama but the payroll deduction was a good thing in the stimulus bill -- a Republican idea he reluctantly supported. Still he supported it so good job Obama!