Let your employees know about this tax-cut timebomb

Some employees may be shocked April of next year when they’re stuck with a big tax bill – because of the stimulus package that, ironically, was designed to add money to their paychecks. But an alert from you and your Payroll dept. can help workers avoid the problem. Here’s why: President Obama’s “Making Work Pay” tax credit, a part of the recent stimulus package, is the lesser of: 1. 6.2% of an employee’s earned income, or 2. $400 ($800 for married taxpayers filing jointly). While the c

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