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Welcome to TaxBlawg, a blog resource from Chamberlain Hrdlicka for news and analysis of current legal issues facing tax practitioners. Although blawg.com identifies nearly 1,400 active “blawgs,” including 20+ blawgs related to taxation and estate planning, the needs of tax professionals have received surprisingly little attention.
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Posts tagged payroll tax.
The American Jobs Act submitted to Congress this week calls for a temporary payroll tax cut and a temporary credit for increased payroll. The specific tax breaks in the proposal include:
- For 2012, the employee's portion of Social Security tax would be 3.1%; the employer's portion would also be 3.1%, up to the first $5 million of wages paid by the employer. The tax on self-employed workers would be reduced to 6.2%.
- From October 1, 2011 through December 31, 2012, the proposed bill would provide a payroll tax credit to offset the employer portion of Social Security tax due to wage increases ...
Categories: Employment Tax