payroll tax holiday

Popular Terms
In the U.S., the temporary reduction of payroll taxes extended to all working taxpayers under the Tax Relief Act of 2010. The reduction of 2% applies to employee payroll tax contributions made in 2011. Employer contributions are not reduced. A taxpayer who earns $50,000 will realize a savings of $1,000 (2% of $50,000).

Use 'payroll tax holiday' in a Sentence

Sometimes there may be a payroll tax holiday and your workers will be very happy during this time of the year.
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The payroll tax holiday was of great benefit to the employee who desired the extra income to buy his daughter a present.
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I was a big supporter of the payroll tax holiday because it would allow me to have more money for the year.
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