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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Version Date Modified Size Author Changes ... Change note
42 26-Nov-2021 10:22 17 KB mmcfarland to previous
41 26-Nov-2021 10:22 17 KB mmcfarland to previous | to last

Page References

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US Federal Tax Calculation
US Federal Tax Calculation

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Difference between version and

At line 47 removed 7 lines
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IPRLU - contains all US Tax Filing Information for both Vertex and Symmetry Tax users
IPRLUS - contains US Tax Filing Information for Symmetry Tax users only
;IPRLU:Contains all US Tax Filing Information for both Vertex and Symmetry Tax users
;IPRLUS:Contains US Tax Filing Information for Symmetry Tax users only
At line 61 changed one line
*The FEDERAL tab, STATE tab and LOCAL Tab must specify all Tax Methods and eligible information
or Federal Tax Calculation, the ‘# of Exemptions’ must be entered on the FEDERAL Tab, if the employee has an IRS letter to indicate the maximum number of exemptions allowed for this employee, then enter on IPRLU MISCELLANEOUS Tab or IPRLUS STATE Tab with Misc. Identifier ‘IRS_MAX_EXEMPTIONS’
*If the employee is eligible for 401K Catch up option, enter with Misc. Identifier ‘401K_CATCHUP’
*If the 401K Catch up option is applicable to all Employees for the entire company, there is no need to enter on IPRLLU / IPRLUS for every employee, the user can specify the Default Value of ‘YES’ on IPUTP to indicate the Catch Up Option default for all employees
At line 63 removed 13 lines
- the FEDERAL tab, STATE tab and LOCAL Tab must specify all Tax Methods and eligible information
- for Federal Tax Calculation, the ‘# of Exemptions’ must be entered on the FEDERAL Tab, if the employee has an IRS letter to indicate the maximum number of exemptions allowed for this employee, then enter on IPRLU MISCELLANEOUS Tab or IPRLUS STATE Tab with Misc. Identifier ‘IRS_MAX_EXEMPTIONS’
- if the employee is eligible for 401K Catch up option, enter with Misc. Identifier ‘401K_CATCHUP’
- if the 401K Catch up option is applicable to all Employees for the entire company, there is no need to enter on IPRLLU / IPRLUS for every employee, the user can specify the Default Value of ‘YES’ on IPUTP to indicate the Catch Up Option default for all employees
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On IPPC screen, please set up Pay Components for these PC Usages for Federal tax Calculation
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On IPPC screen, please set up Pay Components for these PC Usages for Federal tax Calculation
||Usage||Description
|6001|FWT Deduction - Regular Tax
|6002|FWT Deduction - Additional Tax
|6003|FWT Deduction - Supplemental Tax
|6004|FWT Earnings - Regular Tax
|6005|FWT Earnings - Regular Tax
|6051|Pre-FWT Earnings - Reg Tax Table Method (PPE)
|6052|Pre-FWT Earnings - Reg Tax % Method (PPE)
|6053|Pre-FWT 125 Exemption - Reg Tax (PPE)
|6054|Pre-FWT 401K Exemption - Reg Tax (PPE)
|6055|Pre-FWT Earnings - Supplemental Tax (PPE)
|6056|Pre-FWT 125 Exemption - Supplemental Tax (PPE)
|6057|Pre-FWT 401K Exemption - Supplemental Tax (PPE)
|6058|Pre-FIT Hours - Total Hours worked (PPE)
| |
|7901 to|Pre-FWT 125 Exemption - Reg Tax (PPE)
|7928|Pre-FWT HSA Exemption -Suppl Tax (PPE)
| |
|7801 to|Pre-Reg Custom Benefit 01 - Reg Tax (PPE)
|7830|Pre-Sup Custom Benefit 10 - Suppl Tax (PPE)
At line 82 removed 20 lines
Usage Description
6001 FWT Deduction - Regular Tax
6002 FWT Deduction - Additional Tax
6003 FWT Deduction - Supplemental Tax
6004 FWT Earnings - Regular Tax
6005 FWT Earnings - Regular Tax
6051 Pre-FWT Earnings - Reg Tax Table Method (PPE)
6052 Pre-FWT Earnings - Reg Tax % Method (PPE)
6053 Pre-FWT 125 Exemption - Reg Tax (PPE)
6054 Pre-FWT 401K Exemption - Reg Tax (PPE)
6055 Pre-FWT Earnings - Supplemental Tax (PPE)
6056 Pre-FWT 125 Exemption - Supplemental Tax (PPE)
6057 Pre-FWT 401K Exemption - Supplemental Tax (PPE)
6058 Pre-FIT Hours - Total Hours worked (PPE)
7901 to Pre-FWT 125 Exemption - Reg Tax (PPE)
7928 Pre-FWT HSA Exemption -Suppl Tax (PPE)
7801 to Pre-Reg Custom Benefit 01 - Reg Tax (PPE)
7830 Pre-Sup Custom Benefit 10 - Suppl Tax (PPE)
At line 103 removed one line
This page (revision-42) was last changed on 26-Nov-2021 10:22 by mmcfarlandTop