During the first week of January, the IRS released updated tax withholding tables for 2013 based on the income tax changes in the new law. (IRS Notice 1036) New withholding tables also reflect the end of the payroll tax holiday for Social Security tax.
Alert: Employers should start using the revised withholding tables right away, but in any event no later than Feb. 15, 2013.
For any Social Security tax that is under-withheld before that date, make the appropriate adjustments as soon as possible, but no later than March 31, 2013.
Tip: For more details, visit the IRS website.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/34368/observe-the-new-tax-withholding-tables "