Federal Tax Table Changes for 2015

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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NeilZ
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Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
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Federal Tax Table Changes for 2015

Post by NeilZ »

Just a heads up for those using the Payroll module:

There's a change in the Social Security Salary Cap - it goes to $118,500. No change in the tax rate: 6.2% for employee/employer

No change in the Medicare tax rate, it stays at 1.450% for employee/employer.

As usual, the Federal Income Tax Percentage Method's Annual Period withholding table has changed. All these federal tax changes are detailed in the IRS Pub 15 for 2015, which can be found here: http://www.irs.gov/pub/irs-pdf/p15.pdf


A quick walk-through on doing these changes can be found here: https://www.powerchurch.com/support/140 ... tax-tables for V11.x

And here: https://www.powerchurch.com/support/14/ ... bles-v6-10 for previous versions.
Neil Zampella

Using PC+ since 1999.

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