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There are a number of reasons you want to do this in January.
When Congress finalized the tax-extender bill last month, there was a bonus for you. Instead of the confusing Making Work Pay Credit weve had for the last two years, we get a reduction in Social Security taxes. You wont have to adjust your tax return for this, unless you had several jobs with wages over $106,800. You will be getting an extra 2% in your paycheck, due to the reduction of Social Security taxes. For someone earning $60,000, that means an extra $100 per month (if the full $60,000 is subject to Social Security taxes).