As part of the fiscal cliff deal passed this week, legislators chose not to extend a 2 percent personal payroll tax holiday that has been in effect for two years. That means about three-quarters of American households will have smaller paychecks this year, according to the American Institute of Certified Public Accountants.

Someone who makes $50,000 will take home about $1,000 less in pay, the organization said. The fiscal cliff legislation also removed some restrictions that will make it possible for people to convert a traditional 401(k) to a Roth 401(k).

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