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U.S. FEDERAL TAXATION ELEMENTS
U.S. FEDERAL TAXATION ELEMENTS

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|FED TAX REG EARNS\\Regular Gross Taxable Earnings subject to Federal Withholding Tax (FWT) calculation Annualized/table Method. |6051 Pre-FWT Earnings Reg Tax Table Method
|FED TAX PERC EARNS\\Regular Gross Taxable Earnings subject to Federal tax calculation by% method. This Element is used when FEDERAL Tax Method =% on FED TAX PERC EARNS. This Element may contain Taxable Earnings minus the tax exemption because when% method is used, Vertex is not subtracting the 401K/403B, 125 plan contribution, and therefore the Element should exclude Pay Components exempt under 401K/403B and 125 regulations. |6052 Pre-FWT Earnings Reg Tax% Method
|FED TAX - 125\\125 plan contribution to be exempted from Federal Withholding Tax (FWT), FICA and Medicare calculations. |6053 Pre-FWT 125 Exemption -Reg. Tax
|FED TAX - 401K\\401K/403B plan contribution to be exempted from Federal Withholding Tax (FWT) calculation. |6054 Pre-FWT 401 Exemption –Reg. Tax
|FED SUPPL EARNS\\Supplemental Gross Taxable Earnings subject to Federal tax calculation. Excludes Pay Components already in FED TAX REG EARNS.|6055 Pre-FWT Earnings Suppl Tax
|FED SUPPL - 125\\125 plan contribution to be exempted from Federal Supplemental Tax (FSP). If this Element does not exist and Federal Supplemental Tax (FSP) Gross is greater than zero, the amount specified by FED TAX - 125 will be split into an amount to be exempted from Federal Withholding Tax (FWT) and an amount to be exempted from Federal Supplemental Tax (FSP). The split will be done in the ratio of Federal Withholding Tax (FWT) Gross to Federal Supplemental Tax (FSP) Gross. |6056 Pre-FWT 125 Exemption - Suppl. Tax
|FED SUPPL - 401K\\401K/403B plan contribution to be exempted from Federal Supplemental Tax (FSP). If this Element does not exist and Federal Supplemental Tax (FSP) Gross is greater than zero, the amount specified by FED TAX - 401K will be split into an amount to be exempted from Federal Withholding Tax (FWT) and an amount to be exempted from Federal Supplemental Tax (FSP). The split will be done in the ratio of Federal Withholding Tax (FWT) Gross to Federal Supplemental Tax (FSP) Gross. |6057 Pre-FWT 401 Exemption –Suppl.Tax
|EIC EARNINGS\\Gross Earnings subject to Earned Income Credit (EIC) calculation. |6151 Pre-EIC Earnings
|FICA EE EARNINGS\\ Gross Earnings subject to Employee FICA calculation. This Element must not include Pay components that defined in FED SUPPL EARNS because FED SUPPL EARNS will automatically be added to FICA EE EARNINGS by Vertex. The user must also set up MEDI EE EARNINGS in order to calculate the Medicare portion of the FICA. |6251 Pre-FICA Employee Earnings
|FICA ER EARNINGS\\Gross Earnings subject to Employer FICA calculation. This Element must not include Pay components that defined in FED SUPPL EARNS because FED SUPPL EARNS will automatically be added to FICA ER EARNINGS by Vertex. The user must also set up MEDI ER EARNINGS in order to calculate the Medicare portion of the FICA. |6261 Pre-FICA Employer Earnings
|FUTA ER EARNINGS\\Gross Earnings subject to Employer FUTA calculation. This element must not include pay components that defined in FED SUPPL EARNS because FED SUPPL EARNS will automatically be added to FUTA ER EARNINGS by Vertex. |6451 Pre-FUTA Employer Earnings
|MEDI EE EARNINGS\\Gross Earnings subject to Employee Medicare calculation. This element must not include pay components that defined in FED SUPPL EARNS because FED SUPPL EARNS will automatically be added to MEDI EE EARNINGS by Vertex. |6551 Pre-Medicare Employee Earnings
|MEDI ER EARNINGS\\Gross Earnings subject to Employer Medicare calculation. This element must not include pay components that defined in FED SUPPL EARNS because FED SUPPL EARNS will automatically be added to MEDI ER EARNINGS by Vertex. |6552 Pre-Medicare Employer Earnings
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|FED TAX REG EARNS \\Regular Gross Taxable Earnings subject to \\Federal Withholding Tax (FWT) calculation \\Annualized/table Method. |6051 \\Pre-FWT Earnings\\Reg Tax Table Method
|FED TAX PERC EARNS \\Regular Gross Taxable Earnings subject to\\Federal tax calculation by% method.\\This Element is used when FEDERAL Tax\\Method =% on FED TAX PERC EARNS.\\This Element may contain Taxable Earnings\\minus the tax exemption because when% \\method is used, Vertex is not subtracting the\\401K/403B, 125 plan contribution, and therefore\\the Element should exclude Pay Components\\exempt under 401K/403B and 125\\regulations. |6052\\Pre-FWT Earnings \\Reg Tax% Method
|FED TAX - 125\\125 plan contribution to be exempted from\\Federal Withholding Tax (FWT), FICA and\\Medicare calculations. |6053 \\Pre-FWT 125 \\Exemption -Reg. Tax
|FED TAX - 401K\\401K/403B plan contribution to be exempted\\from Federal Withholding Tax (FWT) calculation. |6054 \\Pre-FWT 401\\Exemption –Reg. Tax
|FED SUPPL EARNS\\Supplemental Gross Taxable Earnings subject \\to Federal tax calculation.\\Excludes Pay Components already in FED\\TAX REG EARNS.|6055\\Pre-FWT Earnings\\Suppl Tax
|FED SUPPL - 125\\125 plan contribution to be exempted from\\Federal Supplemental Tax (FSP).\\If this Element does not exist and Federal\\Supplemental Tax (FSP) Gross is greater\\than zero, the amount specified by FED TAX\\- 125 will be split into an amount \\to be exempted from Federal Withholding Tax\\(FWT) and an amount to be exempted from\\Federal Supplemental Tax (FSP). The split \\will be done in the ratio of Federal Withholding \\Tax (FWT) Gross to Federal Supplemental \\Tax (FSP) Gross. |6056 \\Pre-FWT 125 \\Exemption - Suppl. Tax
|FED SUPPL - 401K\\401K/403B plan contribution to be exempted\\from Federal Supplemental Tax (FSP).\\If this Element does not \\exist and Federal Supplemental Tax (FSP) Gross is greater\\than zero, the amount specified by FED TAX\\- 401K will be split into \\an amount to be exempted from Federal Withholding Tax\\(FWT) and an amount to be exempted from\\Federal Supplemental Tax (FSP). \\The split will be done in the ratio of Federal Withholding\\Tax (FWT) Gross to Federal Supplemental\\Tax (FSP) Gross. |6057 \\Pre-FWT 401 \\Exemption –Suppl.Tax
|EIC EARNINGS \\Gross Earnings subject to Earned Income\\Credit (EIC) calculation. |6151 \\Pre-EIC Earnings
|FICA EE EARNINGS \\Gross Earnings subject to Employee FICA\\calculation. \\This Element must not include Pay components\\that defined in FED SUPPL EARNS \\because FED SUPPL EARNS will automatically \\be added to FICA EE EARNINGS by Vertex. \\The user must also set up MEDI EE EARNINGS \\in order to calculate the Medicare portion \\of the FICA. |6251 \\Pre-FICA \\Employee Earnings
|FICA ER EARNINGS \\Gross Earnings subject to Employer FICA \\calculation. \\This Element must not include Pay components \\that defined in FED SUPPL EARNS \\because FED SUPPL EARNS will automatically \\be added to FICA ER EARNINGS by \\Vertex. \\The user must also set up MEDI ER EARNINGS \\in order to calculate the Medicare portion \\of the FICA. |6261\\Pre-FICA\\Employer Earnings
|FUTA ER EARNINGS \\Gross Earnings subject to Employer FUTA \\calculation.\\This element must not include pay components \\that defined in FED SUPPL EARNS \\because FED SUPPL EARNS will automatically \\be added to FUTA ER EARNINGS by \\Vertex. |6451\\Pre-FUTA \\Employer Earnings
|MEDI EE EARNINGS \\Gross Earnings subject to Employee Medicare \\calculation.\\This element must not include pay components \\that defined in FED SUPPL EARNS \\because FED SUPPL EARNS will automatically \\be added to MEDI EE EARNINGS by \\Vertex. |6551\\Pre-Medicare \\Employee Earnings
|MEDI ER EARNINGS \\Gross Earnings subject to Employer Medicare \\calculation.\\ This element must not include pay components \\that defined in FED SUPPL EARNS \\because FED SUPPL EARNS will automatically \\be added to MEDI ER EARNINGS by \\Vertex. |6552 \\Pre-Medicare \\Employer Earnings
This page (revision-3) was last changed on 26-Nov-2021 10:22 by RForbesTop