December 21, 2010
A special holiday gift from the IRS!
The 2011 Social Security tax for employees will drop from 6.2% to 4.2%, allowing employees to keep more of their earnings. Please note that this change is only for employees -- the employer's tax rate has not changed. Also, it will only last until the end of 2011, so enjoy it while it lasts!
To calculate your new "take-home" pay, visit our Employee Paycheck Calculator.