01.01.11
Tax Law Changes for 2011
•Social Security reduction - For 2011, the employee portion of  Social Security tax will be reduced from 6.2% to 4.2%.

•Advanced Earned Income Credit (AEIC) is eliminated - The     payroll credit (advance payments of earned income credit)       expires 12/31/2010. Starting in 2011, eligible employees         claim this credit on their individual tax returns.

•HIRE Act expiration - The HIRE Act Social Security payroll tax   exemption expires 12/31/2010. It does not apply to any             wages paid in 2011.

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3.04.2011
U.S. House passes 1099 repeal!

The U.S. House of Representatives passed legislation Thursday to repeal a controversial provision in the federal health care reform law that would have required more paperwork for small businesses.