This page (revision-23) was last changed on 26-Nov-2021 10:22 by Karen Parrott

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

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Version Date Modified Size Author Changes ... Change note
23 26-Nov-2021 10:22 6 KB Karen Parrott to previous
22 26-Nov-2021 10:22 8 KB Meg McFarland to previous | to last
21 26-Nov-2021 10:22 8 KB Meg McFarland to previous | to last

Page References

Incoming links Outgoing links
W 2_YEAR_END_CHANGES...nobody
W2_YEAR_END_CHANGES

Version management

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!!!2019 Year End Changes
!!!2020 Year End Changes
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For tax year 2019 there are no record layout changes.
For tax year 2020 there are no record layout changes.
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* The Social Security Wage Base for tax year 2019 is $132,900.
* The employer and employee tax rate for Social Security will be withheld at 6.2 percent (up to $8,239.80).
* The 2019 Social Security and Medicare coverage threshold for Household wages is $2,100.
* Section 1.1 – Filing Requirements – A new question and answer has been added to address money fields that are not reportable in the EFW2 format.
* Section 2.3 – Terminating a Business – A new question and answer has been added to address how mixed and non-mixed future tax year reports should be submitted.
* Section 6.1 – General - Updated AccuWage Online language for clarification.
* Appendix H – 16.0 - Maximum Wage and Tax Table: This table has been modified to include tax year 2019 Social Security wage amount changes, including Household wages.
* The Social Security Wage Base for tax year 2020 is $137,700.
* The employer and employee tax rate for Social Security will be withheld at 6.2 percent (up to $8,537.40).
* The 2019 Social Security and Medicare coverage threshold for Household wages is $2,200.
* Appendix H – 16.0 - Maximum Wage and Tax Table: This table has been modified to include tax year 2020 Social Security wage amount changes, including Household wages.
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* For tax year 2019, BSO filers can upload their files beginning December 9, 2019. Terminating businesses can file before that date. Please refer to Section 2.3: Terminating a Business, for more information.
* For tax year 2019, Electronic Data Transfer (EDT) filers can transmit their files beginning December 9, 2019
* For tax year 2020, BSO filers can upload their files beginning December 7, 2020. Terminating businesses can file before that date. Please refer to Section 2.3: Terminating a Business, for more information.
* For tax year 2020, Electronic Data Transfer (EDT) filers can transmit their files beginning December 7, 2020
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The Internal Revenue Service (IRS) deadline for electronic filing is __January 31, 2020__ [http://www.irs.gov/pub/irs-pdf/iw2w3.pdf]
The Internal Revenue Service (IRS) deadline for electronic filing is __February 1, 2021__ [http://www.irs.gov/pub/irs-pdf/iw2w3.pdf]
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!!!W-4 Changes
The 2019-R11 and W4 Logic software, which includes both the STE1 and STE2 versions, has been made available for you to download from our Release Wiki at:
[http://www.highlinecorp.com/Release/Wiki.jsp?page=US%20Taxation%20Releases]
Setup is required for implementing the changes needed to support the new 2020 W4 form requirements. Please review the 'PR_US_2020_W4_Processing' document (also from the Release Wiki) and complete the necessary steps.\\
For full instructions and information about the 2020 W-4, please refer to the most recent draft of Publication 15-T, Federal Income Tax Withholding Methods at:
[https://www.irs.gov/pub/irs-dft/p15t--dft.pdf]
\\
For a PDF version of the 2020 W-4 Preview, visit:
[https://www.irs.gov/pub/irs-dft/fw4--dft.pdf]
!!!2020 Symmetry STE2 Changes
Symmetry is ending support of STE1 in December of 2019. Clients must have STE2 in place and tested before processing the first pay of January 2020. The 2019-R11 and W4 Logic software, which includes both the STE1 and STE2 versions, has been made available for you to download from our Release Wiki at:
[http://www.highlinecorp.com/Release/Wiki.jsp?page=US%20Taxation%20Releases]
This page (revision-23) was last changed on 26-Nov-2021 10:22 by Karen ParrottTop