Tag: payroll tax holiday
![Man hand holding mobile smart phone and signing checkbook on the desk at office](https://crr.bc.edu/wp-content/uploads/2023/07/Man-hand-holding-mobile-smart-phone-and-signing-checkbook-on-the-desk-at-office-1536x1024.jpeg)
In January 2011, employees across America experienced a cut in their payroll tax from 6.2 percent to 4.2 percent on their earnings up to the Social Security maximum ($106,800). (The self-employed saw their tax go from 12.4 percent to 10.4 percent.) The cut is supposed to expire at the end of the year. In t…