This page (revision-42) was last changed on 26-Nov-2021 10:22 by mmcfarland

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

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US Federal Tax Calculation
US Federal Tax Calculation

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At line 18 changed 2 lines
When [UPUTR] is run, it loads in a list of the Federal Tax Parameters for the Symmetry Federal Tax calculation.\\ \\
On IPUTP screen, the following Federal tax parameters are available to be used on IPRLU / IPRLUS screen.
When [UPUTR] is run, it loads in a list of the Federal tax parameters for the Symmetry Federal Tax calculation.\\ \\
On the [IPUTP] screen, the following Federal tax parameters are available to be used on the [IPRLU]/[IPRLUS] screen:
 401K_CATCHUP
 IRS_MAX_EXEMPTIONS
These parameters will not automatically be added to IPRLU / IPRLUS by UPRLU process for all employees. Users are required to manually add to IPRLU / IPRLUS for employees who are eligible for each parameter.
401K_CATCHUP
- Optional, character, 401K Limit Catch Up Option
- indicates to Symmetry if the employee is enrolled in a 401k Catch up plan
- the annual regular 401k contribution limit is defined by the IRS, e.g. $16,500. if the user is enrolled in 401k plan with annual contribution limit greater than this regular limit, this parameter allows the 401k maximum contribution to exceed the IRS limit for Benefit Pre-tax calculation
- 'DEFAULT'-Catch Up is not allowed, 'YES'-Catch Up is allowed, 'NO'-Catch Up is not allowed.
- If 401K Catch up option is applicable to all employees, user can enter ‘YES’ in IPUTP Default Value, otherwise each employee can specify the value for this option on IPRLU /IPRLUS screen
This page (revision-42) was last changed on 26-Nov-2021 10:22 by mmcfarlandTop