Payroll Tax Changes Affect the Way Americans Spend and Save

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. Full story