Monthly Archives: December 2012

2013 Medicare Tax Addition

Posted on December 7, 2012 by Payroll Dynamics

Effective January 1, 2013, an additional Medicare tax will impact employers and payroll service providers. The Patient Protection and Affordable Care Act (PPACA) increases the Medicare hospital insurance tax rate on wages by 0.9% (from 1.45% to 2.35%) for higher-income individuals … Continue reading →

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IRS Announces 2013 Pension Plan Limitations

Posted on December 6, 2012 by Payroll Dynamics

IRS Announces 2013 Pension Plan Limitations; The following was copied directly from the IRS website (see link above): “WASHINGTON — The Internal Revenue Service today announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax … Continue reading →

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Social Security Number (SSN) Protection for New York Workers

Posted on December 5, 2012 by Payroll Dynamics

New York Governor Andrew Cuomo signed a new law that would no longer require a person to furnish or disclose his or her Social Security Number (SSN) for any purpose. The new law, which protects SSNs, will apply to employers … Continue reading →

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Amendment to Wage Deduction Statute for New York Employers (Section 193)

Posted on December 5, 2012 by Payroll Dynamics

As we reported in a prior blog post in September, an amendment to New York’s wage deduction statute — New York Labor Law Section 193 — was passed by the Senate and Assembly in June.  Governor Andrew Cuomo signed the … Continue reading →

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