This is an archival or historical document and may not reflect current policies or procedures.
|
|---|
  |
| January 2011 |
|---|
In This Issue:
|
Carolyn W. Colvin Sworn in as Deputy Commissioner of Social Security
“Carolyn brings a wealth of expertise that will be extremely valuable as we face the dual challenges of ever increasing workloads and reducing current backlogs in an environment of fiscal austerity.” said Michael J. Astrue, Commissioner of Social Security. Nominated by President Obama and confirmed by the United States Senate, Ms. Colvin will serve as the principal deputy to the Commissioner, as well as the Secretary to the Social Security Board of Trustees. She previously worked at the agency, holding key executive positions. Social Security welcomes her back to the nation’s largest independent Federal agency. “I’m very excited to be back at Social Security,” said Deputy Commissioner Colvin. “I look forward to working closely with Commissioner Astrue.” Learn more about Social Security’s new Deputy Commissioner by reading the press release. |
Social Security Tax drops from 6.2 to 4.2 Percent
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 reduced 2011 Social Security tax rates for employees and self-employed people by two percentage points. Learn more about the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 at the White House website. |
|
|
Social Security will mail SSA-1099s for tax year 2010 by the end of January 2011. If you or one of your clients receive Social Security benefits and did not receive an SSA-1099 for 2010, but need it to file a tax return, you can request a replacement online at www.socialsecurity.gov/onlineservices. For more information on taxation of Social Security benefits, visit the IRS website at www.irs.gov.
|
|
|
Social Security’s free electronic filing option is available for any small business, and allows you to prepare and submit up to 20 W-2s (per report) over a secure Internet service. The service even allows employers to print out paper W-2 forms to give to employees. To learn more, visit Social Security’s Business Services Online at www.socialsecurity.gov/bso. | |
|
Social Security’s program rules are available online and may be accessed at www.socialsecurity.gov/regulations. There, you will find complete information about Social Security’s laws, regulations, rulings, and employee operating instructions. For information about what Social Security is doing to improve its regulations and how the agency will implement the President’s executive order, go to the Open Government website: www.socialsecurity.gov/open/regsreview/. |
|
Join Us on Facebook and Twitter
Do you like receiving short messages? Then follow us on Twitter; just go to www.twitter.com/socialsecurity and select “Follow Social Security” to receive our tweets. You can also follow us by visiting www.socialsecurity.gov and clicking the Facebook and Twitter icons in the lower right-hand corner. We encourage anyone interested in Social Security to join us on Facebook and Twitter. And, if you find our postings valuable, we hope you will share them with your friends, family, and colleagues. |
|
|
Subscribe to Social Security Update today and you'll always be in the know when it comes to Social Security news. All we need is your e-mail address. |
Earlier this month, Carolyn W. Colvin joined the agency as Deputy Commissioner for Social Security.
For 2011, the Social Security tax rate is 4.2 percent for employees, 6.2 percent for employers, and 10.4 percent for self-employed people. These rates apply to earnings up to the maximum taxable amount ($106,800 in 2011).
If you or one of your clients owns a business with employees, the law requires you to file W-2 forms each year for them. Social Security offers a fast, convenient, and paperless way to file W-2s online. 
In response to President Obama’s executive order on improving regulations and regulatory review, Social Security is inviting people to provide direct feedback on its rules and regulations. 
Do you like to know what’s going on with Social Security? Then “Like” us on Facebook by visiting 
Subscribe here.