| Payroll Tax Extension Debated |
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Extending payroll taxes and cuts to Medicare payments to physicians are on the table in Washington D.C. as Congress decides what issues to approach as the year nears its end. According to K&L Gates, "The House will take up Tuesday legislation that would extend an expiring payroll tax reduction, extend an expiring unemployment benefit extension, and prevent a 27 percent cut in Medicare payments to physicians." The payroll tax cut extension would last through 2012 and would keep the employee share of the payroll tax at 4.2 percent. It is set to increase back to 6.2 percent without the extension. More Information
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Current tax cuts set to expire soon.