Elimination of the payroll tax credit that went into effect on January 1, 2013 has more than likely affected your take-home pay.
For most Americans, it’s to the tune of about 2%. The payroll tax credit for 2011 and 2012 effectively replaced the Making Work Pay Credit that expired in 2010.
If you don’t think that’s going to have a significant effect on your overall finances, consider the fact that if you make $45,000 per year, you’re now receiving $900 less annually.
That’s a few car payments, a mortgage or rent payment, or several trips to the grocery store. If you’ve been falling behind of late on your monthly bills, this could be the reason.