How the Payroll Tax Cut Expiration Looks When Your Payroll Clerk Emails You About It.

You'll be hearing a lot more about the payroll tax cut expiration/extension fight over the next few weeks. Yes, the do-nothing Congress is taking up that debate again and, without congressional action, the tax cut expires on February 29th. Here's the way the implications of the expiration were reported to us by our payroll clerk.

[click image for larger view.]

And I'll be damned if that doesn't look like a 2% tax increase.


  1. How about the term "Credit Reduction"? When I was calculating our office's FUTA tax, which I've been paying as needed throughout the year, the end of the year tax form showed we owed another $200. Upon further inspection, I noticed it was labeled a "credit reduction". How ridiculous is that? Sorry, we're reducing the amount of credit we originally gave you - now you OWE.

  2. They should shorten the name of that one to the "FU" tax.