Backup Withholding

American Payroll Association (APA) Compliance Update

Payroll in 2013 – Higher Social Security Tax Rate; New Withholding Tables -- On January 2, 2013, President Barack Obama signed into law the American Taxpayer Relief Act of 2012 (ATRA 2012; H.R. 8). The new law permanently fixes income tax rates at the levels established by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, Pub. L. 107-16) that were extended through 2012, except for a new higher rate for certain high income taxpayers, thus temporarily at least avoiding the so-called "fiscal cliff."
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