Fiscal Cliff & CheckMark Payroll

I’m sure you’ve all by now seen Congress’s decision on the Fiscal Cliff. Except for individuals earning over $400,000 or married couples earning more than $450,000, taxes won’t be increasing significantly. However, the social security cut did expire and both the employer and employee portion are back to 6.2%. You’ll be happy to know that if you are running the most current patch (Payroll 8.3.2) and have loaded the latest tables (click Load 2013 values under Federal Tax), that rate change is reflected for any payroll you run in 2013.

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