2011 Federal Taxes

Version 4692 and higher has been updated to include the 2011 federal payroll taxes. This update includes the change in the employee social security withholding rate to 4.2% for 2011, down from 6.2%. The employer expense accrual percent has not changed. For the 2011 federal withholding rates we are using the same rates as 2010 based upon the announced extension of the Bush Tax Cuts. When Publication 15 is available on the internet we will double check the rates and make any changes if necessary.