2012 Reminders

The temporary 2% reduction in employee Social Security Tax deductions, scheduled to expire December 31, have been extended two months, through February 2012.

The IRS announced that the standard employee mileage reimbursement rate for transportation expenses paid or incurred beginning January 1, 2012 will be 55.5 cents per mile, unchanged from the rate in effect during the final six months of 2011.