Last Chance to Make Adjustments for Payroll Tax Holiday

As we all know, the 2010 Tax Relief Act reduced the amount of social security withholding for employees by 2%.  Since, Congress acted so late, a number of businesses did not implement the change to their employees withholding.  The IRS will allow you to fix these in future paychecks but not after March 31, 2011.  So if you need to make any changes, you have until tomorrow, March 31st, to correct it without amending previously filed returns.

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