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Employees will see an increase in the Social Security Tax rate in 2013

Workforce Compliance Trends
Posted on Jan 25, 2013

The updated tax tables, issued after President Obama signed the changes into law, show the new rates in effect for 2013 and supersede the tables issued on December 31, 2012. The newly revised version of Notice 1036 contains the percentage method income-tax withholding tables and related information that employers need to implement these changes.

In 2013, Employers are required to begin withholding Social Security tax at the rate of 6.2 percent of wages paid following the expiration of the temporary two-percentage-point payroll tax cut of 4.2 percent in effect for 2011 and 2012.

Click on the IRS web site for more information.

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