This is a reminder that the nanny's (employee's) Social Security Tax Rate is reduced to 4.2% for 2011. According to Internal Revene Service guidance, all employers must be making correct payroll tax deductions no later than January 31, 2011 and they must make refunds to the employee of any over-collected Social Security Taxes on wages paid in 2011 by that date.
Topics: nanny payroll, nanny payroll tax, nanny tax, nanny social security tax rate
Illinois Governor Quinn signed legislation on Thursday, January 13, 2011 that increased income taxes for Illinois residents.
Topics: nanny payroll, nanny payroll tax, calculate nanny payroll tax
