Payroll Tax Cut: Payroll Software from PayrollMate Implements 2011 IRS Withholding Tables

Payroll Mate payroll software makes it easy for accountants, businesses and payroll staffs to implement the new Social Security payroll tax cut introduced by the Tax Relief Act, signed into law by President Obama on Dec. 17 2010.

Real Business Solutions, Inc. (, a leading provider of payroll software for accountants and businesses, is helping employers, accounting firms and payroll service providers comply with the changes to the payroll tax law introduced by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.

All users of Payroll Mate 2011 will get the new payroll updates for free. The software maker is also advising small businesses that are still doing payroll by hand to start using a payroll software solution, which offers serious benefits, from increased payroll preparation efficiency to tangible cost savings.

Users interested to learn more about Payroll Mate can visit or download a payroll software trial from the product’s website.

For 2011, the employee tax rate for social security is 4.2%. The employer tax rate for social security remains unchanged at 6.2%. The 2011 social security wage base limit is $106,800. In 2011, the Medicare tax rate is 1.45% each for employers and employees, unchanged from 2010. There is no wage base limit for Medicare tax. Employers should implement the 4.2% employee social security tax rate as soon as possible, but not later than January 31, 2011.

Payroll Mate makes doing payroll yourself easy, smooth, predictable, and of course affordable through a set of powerful and flexible payroll management capabilities that allow small businesses to operate smarter and save money. Payroll Mate can also be used as QuickBooks payroll alternative and for Quicken users as Quicken payroll software.

Payroll Mate automatically calculates net pay, federal withholding tax, Social Security tax, Medicare, state and local payroll taxes. Payroll Mate also supports different types of payroll pay periods, prints payroll checks, and prepares payroll forms 941, 944, 940, W2, W3, California DE-6, California DE-7, Texas C-3, Texas C-4, New York NYS-45, Illinois 941 and Illinois UI-3/40. This payroll software also supports user-defined income, tax, and deduction categories making it very flexible and powerful.

Share This Post

More To Explore