What Happened to My Paycheck?

- Win $529 for your child's college education

What Happened to My Paycheck?

Posted: Updated:

By Barbara Sharp, Reporter - email

If you're wondering why your paychecks are smaller, it has nothing to do with the fiscal cliff. According to a tax expert, your paycheck is lower because of a tax break that wasn't extended.

Carlene Shilling, Tax Partner at Eide Bailly, explains "your paycheck is lower, because Social Security tax increased by two percent, effective January 1 of 2013. Congress chose not to extend the provision that was enacted in 2010 that was effective for 2011 and 2012. So nobody had to do anything. The tax holiday was set to expire. Congress simply let it expire."

This means for each $1,000 you earn in gross pay, your paycheck will be $20 less.

Bismarck/Mandan NewsMore>>
Remembering Tyler Orgaard and Darren Linde
Remembering Tyler Orgaard and Darren Linde
Updated: Wednesday, May 22 2013 10:40 PM EDT2013-05-23 02:40:07 GMT
Nearly six months ago North Dakota lost two soldiers in Afghanistan. Sgt. First Class Darren Linde and Specialist Tyler Orgaard were killed last December when a roadside bomb detonated near their vehicle. Tonight
Sgt. First Class Darren Linde and Specialist Tyler Orgaard were killed last December when a roadside bomb detonated near their vehicle.

Tonight family and friends are remembering those soldiers as their names are placed on the Fallen Soldiers Memorial.
North Dakota Amber Alert System Tested
North Dakota Amber Alert System Tested
Updated: Wednesday, May 22 2013 6:59 PM EDT2013-05-22 22:59:11 GMT
North Dakota's Amber Alert Plan was put to the test today. Each year, the Department of Emergency Services simulates a child gone missing in North Dakota. The goal is to ensure coordination with local
North Dakota's Amber Alert Plan was put to the test today. Each year, the Department of Emergency Services simulates a child gone missing in North Dakota. The goal is to ensure coordination with local
New Transportation Head At The Helm
New Transportation Head At The Helm
Updated: Wednesday, May 22 2013 6:54 PM EDT2013-05-22 22:54:57 GMT
A new transportation head steps into the driver's seat. Governor Jack Dalrymple appoints Grant Levi as the Director of the North Dakota Department of Transportation. He has more than 30 years with
A new transportation head steps into the driver's seat. Governor Jack Dalrymple appoints Grant Levi as the Director of the North Dakota Department of Transportation. He has more than 30 years with
27th Annual Dakota Cowboy Poetry Gathering
27th Annual Dakota Cowboy Poetry Gathering
Celebrate the western way of life at the annual Dakota Cowboy Poetry Gathering this weekend in Medora. Gathering founder, Bill Lowman explains how it came to be, and the highlights of this weekend's e
Celebrate the western way of life at the annual Dakota Cowboy Poetry Gathering this weekend in Medora. Gathering founder, Bill Lowman explains how it came to be, and the highlights of this weekend's e
Mandan Senior Surprised With Inspiration Award
Mandan Senior Surprised With Inspiration Award
Updated: Wednesday, May 22 2013 4:40 PM EDT2013-05-22 20:40:44 GMT
As school winds down many students prepare to say goodbye for the summer, but one senior at Mandan High School has already left a huge mark in his community. If you know Michael Kaip, you know he loves
Born with cerebral palsy, Michael Kaip is the founder of Dreams in Motion, an organization that allows athletes of all abilities to compete in all sports.

BusinessMore>>
US stock market recovers most of an early loss
US stock market recovers most of an early loss
Stock prices are slightly lower at midday on Wall Street after manufacturing contracted unexpectedly in China this month.
Stock prices are slightly lower at midday on Wall Street after manufacturing contracted unexpectedly in China this month.
Birth control coverage up for federal appeal
Birth control coverage up for federal appeal
Contraception coverage by for-profit companies faces a prominent test in Denver.
In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage...
ECB official: New bank authority 'indispensable'
ECB official: New bank authority 'indispensable'
A top European Central Bank official says an agency with powers to restructure and wind down busted banks is "indispensable" to strengthening the continent's banking system against future turmoil.
A top European Central Bank official is calling for quick creation of an agency with powers to restructure and wind down busted banks, in an apparent pushback against Germany's insistence that such fundamental changes...
Sales gains lift Dollar Tree's 1Q profit 15 pct
Sales gains lift Dollar Tree's 1Q profit 15 pct
Discount retailer Dollar Tree Inc. said Thursday that its net income increased 15 percent in the first quarter as consumers spent more at its stores, which sell goods for $1 or less.
Discount retailer Dollar Tree Inc. said Thursday that its net income increased 15 percent in the first quarter as consumers spent more at its stores, which sell goods for $1 or less.
Markets roiled by Nikkei's 7.3 percent slide
Markets roiled by Nikkei's 7.3 percent slide
Asian stock markets slid Thursday, pulled down by a contraction in China's manufacturing that adds to signs that the shaky recovery in the world's No. 2 economy is slowing.
Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago.

PoliticalMore>>
Birth control coverage up for federal appeal
Birth control coverage up for federal appeal
Contraception coverage by for-profit companies faces a prominent test in Denver.
In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage...
Obama to address drones, Gitmo in security speech
Obama to address drones, Gitmo in security speech
Amid lingering concerns about his national security policies, President Barack Obama is outlining measures to clarify the deadly use of drones against terror suspects.
President Barack Obama is set to at least partially bring out into the open some of the U.S.-directed drone program, a key component of counterterrorism strategy, as he outlines the contours of the continuing threat to...
Report: Nation's kids need to get more physical
Report: Nation's kids need to get more physical
Reading, writing, 'rithmetic - and PE?
Reading, writing, arithmetic - and PE?
Malaysian charged with sedition, 3 more arrested
Malaysian charged with sedition, 3 more arrested
Malaysian authorities detained two anti-government figures and charged a student activist with sedition Thursday, raising political tensions after recent national elections triggered claims of fraud.
Malaysian authorities detained three anti-government figures, charged a student activist with sedition and seized hundreds of opposition newspapers Thursday, raising political tensions after recent national elections...
Senator: Assaults let military culture continue
Senator: Assaults let military culture continue
A senator says repeated sexual assaults in the military allow a culture to continue.
A senator says repeated sexual assaults in the military allow a culture to continue.

North Dakota HeadlinesNorth Dakota HeadlinesMore>>
Rice Lake residents experiencing flooding again
Rice Lake residents experiencing flooding again
People around Rice Lake in northwestern North Dakota are experiencing flooding for a third straight year.
People around Rice Lake in northwestern North Dakota are experiencing flooding for a third straight year.
ND officials still hopeful base can get tankers
ND officials still hopeful base can get tankers
North Dakota's governor and congressional delegation say they will continue to push for a new air refueling tanker mission at Grand Forks Air Force Base.
North Dakota's governor and congressional delegation say they will continue to push for a new air refueling tanker mission at Grand Forks Air Force Base.
Williston to get third state district court judge
Williston to get third state district court judge
The North Dakota Supreme Court has decided that one of two new judgeships in the Northwest Judicial District will be based in Williston.
The North Dakota Supreme Court has decided that one of two new judgeships in the Northwest Judicial District will be based in Williston.
Flood situation improves dramatically in Crystal
Flood situation improves dramatically in Crystal
Floodwaters that swamped Crystal have stopped entering the small Pembina County town, and county Emergency Manager Andrew Kirking says the focus is now on cleanup.
Floodwaters that swamped Crystal have stopped entering the small Pembina County town, and county Emergency Manager Andrew Kirking says the focus is now on cleanup.
News Minute: Here is the latest North Dakota news from The Associated Press
News Minute: Here is the latest North Dakota news from The Associated Press
The threat of a dam failure on a river near a northeastern North Dakota city appears to be easing. The level of the water behind Renwick Dam on the Tongue River has been dropping since mid-day yesterday. Officials hope to...