Payroll Tax Changes Affect the Way Americans Spend and Save

On January 1, 2013, the American Taxpayer Relief Act put more money back in taxpayers’ pockets with the permanent passage of many tax breaks.  The payroll tax holiday, a temporary tax break to help stimulate the economy, however was not extended on January 1, 2013.  Our infographic looks at how the expiration of the payroll tax holiday impacts spending habits and how individuals use their tax refunds.

Infographic by Column Five Media

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TurboTaxLisa

Lisa Lewis is a CPA and the TurboTax Blog Editor. Lisa has 15 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. Lisa also has been a TurboTax product user for many years and understands how the software program works. In addition to extensive tax experience, Lisa also has a very well-rounded professional background. She has held positions as a public auditor, controller, and operations manager. Prior to becoming the TurboTax Blog Editor, she was a Technical Writer for the TurboTax Consumer Group and worked on a project to write new FAQs to help customers better understand tax laws. She could also be seen helping TurboTax customers with tax questions during Lifeline. For Lisa, getting timely and accurate information out to customers to help them is paramount.

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