Middle Class Tax Relief and Job Creation Act of 2012
On February 22, 2012, President Obama signed into law the "Middle Class Tax Relief and Job Creation Act of 2012 (H.R. 3630)." This act extends the reduced employee Social Security tax rate of 4.2% until the end of year 2012. Beginning in 2013, the employee Social Security tax rate is scheduled to increase to the pre-2011 level of 6.2% unless Congress agrees to extend it past this date.
View the Entire Tax Act Passed By Congress and Signed Into Law