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Your Paycheck in 2013: Part 1

R.3 Wrote: Jan 02, 2013 9:55 AM
My statement of earnings shows an increase of $80 in Fed tax, Fica, and St tax combined. The largest increase is in Fica where it went up $60.

How much money will Uncle Sam allow you to keep from your paycheck in 2013 in the form of federal income taxes?

Thanks to the so-called "fiscal cliff" standoff in Washington D.C., the answer, for now, is exactly the same as you would have taken home in 2012. That fact will hold true even if the reported deal struck and passed in the U.S. Senate early on 1 January 2013 is passed by the House of Representatives later in the day.

That's because President Obama has previously directed the IRS to not issue any change in the...