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Payroll tax relief Set To End


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The New York Times is reporting that Congress is unlikely to extend the Payroll tax relief, which provided a tax break for middle income earners. The present program allows a tax break borrowed from Social Security. No similar program is being considered.

Combining the sunset of this tax relief program with a number of other tax cuts that are due to expire at the end of the year, including the Bush-era tax cuts, Americans can expect to pay on average $3,500 more in taxes.
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