This page (revision-5) was last changed on 26-Nov-2021 10:22 by Kevin Higgs

This page was created on 26-Nov-2021 10:22 by JEscott

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Version Date Modified Size Author Changes ... Change note
5 26-Nov-2021 10:22 1 KB Kevin Higgs to previous US Tax Withholding Options (UFED_TAX_METHOD) ==> UFED_TAX_METHOD (US Tax Withholding Options)
4 26-Nov-2021 10:22 1 KB Kevin Higgs to previous | to last UFED_TAX_METHOD ==> US Tax Withholding Options (UFED_TAX_METHOD)
3 26-Nov-2021 10:22 1 KB Karen Parrott to previous | to last
2 26-Nov-2021 10:22 477 bytes JMyers to previous | to last
1 26-Nov-2021 10:22 548 bytes JEscott to last

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UFED_TAX_METHOD (US Tax Withholding Options)
UFED_TAX_METHOD (US Tax Withholding Options)

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__US Tax Withholding Options__\\
Because our users have an automated payroll system, the IRS requires they use the Percentage Method tables per publication 15-T.\\ \\The only four federal methods supported are: 
*Annualized Method
*Annualized + Amount (recommended)
*Ann/0 Tax/Upd Wage
*By Supplemental Meth\\
With these options, our tax engine will follow the appropriate rate tables.  Our tax engine takes into consideration all the adjustments accounted for on the newest W4 form:\\* Step 2 selection\\* Step 3 Dependent amounts\\* Step 4 Other income, Deductions, Extra Withholding\\ \\****The Extra withholding will only work if the “Annualized + Amount” is selected.  Thus this is the recommended option.
\\ \\
__Exempt__
\\When an employee claims exempt on the W4, the proper setup should be “Ann/0 Tax/Upd Wage” and should be setup on the employees record as an override.
\\ \\
__Supplemental Method__
\\A special pay category should be setup with this method to handle percentage payments for supplemental payments.
\\ \\
All other methods available should be reserved for special allowances such as Distributions of Indian Gaming Profits.__ \\
This page (revision-5) was last changed on 26-Nov-2021 10:22 by Kevin HiggsTop