A few years ago Congress lowered the amount of taxes that social security (FICA) is taking out of your paycheck by 2%. This was a temporary measure to stimulate the economy with extra money in our pockets (that has been extended because the economy needed more of a push and people liked the extra money).
Unfortunately the clock is ticking on this tax break, and it looks like our paychecks will be a little smaller in 2013 (Unless Congress decides to extend this even more). I doubt that will happen, because the SS Trust Fund is hurting and needs the money.
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IRS CIRCULAR 230 DISCLOSURE REQUIREMENT: IRS Circular 230 requires us to notify you that any tax advice contained in this communication is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding tax penalties that may be imposed by law.
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