There has been much recent news coverage about the “fiscal cliff” and the related changes in taxes, according to Eric Barger, controller. At present, both FICA and federal income tax rates are scheduled to increase on January 1, which would result in a decrease to employees’ net pay. In addition, the tax rule that allows UP to provide up to $5,250 in graduate tuition remission on a pre-tax basis is set to expire. While Congress has historically extended this rule, they have not yet done so for 2013. Please take this into consideration as you make plans for the new year. Note that undergraduate tuition remission is not affected by these changes. For more information contact Barger at 7337 or barger@up.edu.