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IRS Recently Released Withholding Guidance

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John R. Dundon II, EA
John R. Dundon II, EA

Contrary to the manufactured ‘news’ dribbling out of the main stream media to sell advertising, last week the IRS published updated employer’s withholding guidance clearly stating that employers are to now withhold Social Security tax at the rate of 6.2 percent of wages rather than the previous rate of 4.2 percent in place for the past two years. What are your thoughts?

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