Thursday, January 3, 2013

2013 Federal Income Taxes


I received this today, thought it'd share it with you all.

As you are aware, there continues to be activity and discussions in Washington about the “fiscal cliff” impacting 2013 employee withholding taxes.  However, as we go into this week’s payroll / the first check date of 2013 we wanted to make you aware of the rates in the Payroll system.  These rates are based on the current regulations.  Social Security TaxThe payroll tax cut that reduced the employee share of Social Security Tax from 6.2% to 4.2% in 2011 and 2012 expires on December 31, 2012. Therefore, social security tax must be withheld at the rate of 6.2% from employees' wages paid on or after January 1, 2013 for the first $113,700 of subject wages earned. Federal WithholdingThe 2013 withholding tables have not been released by the IRS.  Therefore, we will continue to use the 2012 withholding tables until the 2013 tables are released and applied to the Payroll system.
 

3 comments:

  1. when do you think 2012 w2's will be available online?

    ReplyDelete
    Replies
    1. Securitas is notorious for sending out W2's at the last possible moment. They are supposed to be sent out no later than the end of January. So don't expext them any sooner that that.

      Delete
  2. When should I contact them to request a copy of W2 . I have not received them as of yet

    ReplyDelete

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