Tax Alert

Payroll Tax Cut Extended Through December 2012

(Feb. 23, 2012)

Yesterday President Barack Obama signed into law the Middle Class Tax Relief and Job Creation Act of 2012 (2012 Tax Relief Act). The act extends through Dec. 31, 2012, a decrease of the employee portion of the Social Security payroll tax that was due to expire Feb. 29, 2012.

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Under U.S. Treasury rules issued in 2005, we must inform you that any advice in this communication to you was not intended or written to be used, and cannot be used, to avoid any government penalties that may be imposed on a taxpayer.  

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