“Temporary” unemployment tax expires after 35 years

Thirty five years ago, Congress passed a “temporary” 0.2 percent surtax on federal unemployment taxes that employers pay on the first $7,000 of each employee’s annual wages, or about $14 per employee.  The “temporary” surtax was extended 8 times but finally expired last week.

It is thought that the expiration will be (really, truly) “temporary” and the tax will probably return next year, so enjoy this brief tax savings!