New Year, New Tax Laws: Changes for 2013


Tax
Tax (Photo credit: 401(K) 2012)

The latest “fiscal cliff” battle in Congress are only one example of how the New Year arrived with some substantial challenges.

2013 has finally arrived; with it comes tax law changes that will affect both payroll and employment tax compliance.

Top of the list is the American Taxpayer Relief Act of 2012 (ATRA), which will soon be signed into law by President Obama. The ATRA includes a multitude of changes to payroll tax laws, especially for individuals earning more than $400,000 and families earning more than $450,000.

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