2011 Tax Changes
On Friday, 12/17/2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act.
The IRS released Early 2011 Income Tax withholding tables on Saturday, 12/18/2010.
Notable changes include:
The Employee Social Security percentage was reduced from 6.2% to 4.2% (The Employer portion stays at 6.2%)
Advance EIC (Earned Income Credit) is eliminated.
The "Making Work Pay Credit" expires on 12/31/2010.
There is no pension adjustment.
The Federal Withholding allowance is now $3,700.
The tax tables have still have 6 rate tiers (similar to 2009).
There is a new withholding adjustment schedule for Non-Resident Aliens
Please see details of these changes at http://www.irs.gov/pub/irs-pdf/n1036.pdf
If you have questions of concerns regarding changes, or if you need assistance with making these changes, please contact the CCS Retail Systems Support Department.