I’m pretty sure you are talking about a mere reduction in the paycheck-by-paycheck WITHHELD amount. The underlying SS tax rates that you must pay annually are not changed. (Because the amount withheld during the year is less, however, you must make up the difference when you file.)
I’m pretty sure you are talking about a mere reduction in the paycheck-by-paycheck WITHHELD amount. The underlying SS tax rates that you must pay annually are not changed. (Because the amount withheld during the year is less, however, you must make up the difference when you file.)
Fortunately you are wrong. The reason is because in 2010 everyone was given a 400 or 800 dollar rebate on your taxes. In 2011, I added this amount to the taxes because I thought we had to.....well guess what? I was wrong and the IRS sent me a check for the amount because I was wrong.......First time that has ever happened to me.