Social Security Taxes for 2013
The Fiscal Cliff bill recently signed into law by President Obama did not include the lowered social security tax rates that expired on December 31, 2012. For 2011 and 2012 federal legislation temporarily reduced the social security tax from 6.2% to 4.2%. As a result, the 2013 social security tax rate has increased from 4.2% to 6.2% and is applicable to all earnings paid on or after January 1. For more detailed information, please see the December 11th posting on your portal or at https://uwservice.wisc.edu/news/index.php or contact the Payroll Office at 465-2390 or PayrollandBenefits@uwgb.edu.