Tax Tables Update March 13, 2021
March 13, 2021 - Federal Taxes Re-released. We discovered we had the early preview 2021 Federal Tax figures and not the final release. The employees will notice their net checks will be larger going forward and get a bonus when filing at the end of the year as the preview figures were withholding too much.
See this page of the help file on setting the employees exemptions with information from the 2021 W4 Form:
https://zpay.com/pw-online-help/Usin..._paywindow.htm
You can verify the FIT withholding by using Publication 15-T from the IRS at this link:
https://www.irs.gov/pub/irs-prior/p15t--2021.pdf See Pages 51 through 56 for the formulas to use.
This page in the help file shows how to do the math to verify the withholding: https://zpay.com/pw-online-help/veri...ation_15_t.htm
Paul Mayer
ZPAY Payroll Systems, Inc.