Social Security tax reduction expires - News, Weather and Sports for Lincoln, NE;

Social Security tax reduction expires

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Posted By:  KLKN Newsroom

WASHINGTON (AP) _ Don't look for a bigger paycheck now that Congress has averted the "fiscal cliff'' of income tax increases. The bill passed by Congress does not include extending a Social Security payroll tax cut past the end of last year, so workers will now be paying about two percent more in Social Security taxes.

That means someone earning $50,000 will pay $1,000 more a year in taxes.

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