Smaller paychecks now that tax holiday has expired

Rich Morrow prepares taxes for a living, but this year he has been preparing his clients for a big change on payday. Morrow says, "Ever since I have been in this business, the rate has been 6.2%. But for the past two years, to stimulate the economy, we have had a 2% reduction as a payroll tax holiday. The holiday is over."

By Lauren Seabrook

January 11, 2013