IRS posted new tax rates for 2013

[Jeff]

The IRS has posted new tax rates for 2013. The notice can be found here http://www.irs.gov/pub/irs-pdf/n1036.pdf

You will need to update your tax tables in PowerChurch with the new rates. The employee portion of social security is going back to 6.2%.

There is one change that will require a calculation change. Medicare now has an additional .9% withholding on amounts over $200,000. This is going to require some changes in the program to support this. We are evaluating what changes need to be made and will address this in a future maintenance release.

[mvanlaan]

Thanks for posting this!

[tborgal]

Dido, Posting the link to the IRS page made it much easier to get that information.

[NeilZ]

The IRS has posted new tax rates for 2013. The notice can be found here http://www.irs.gov/pub/irs-pdf/n1036.pdf

You will need to update your tax tables in PowerChurch with the new rates. The employee portion of social security is going back to 6.2%.

There is one change that will require a calculation change. Medicare now has an additional .9% withholding on amounts over $200,000. This is going to require some changes in the program to support this. We are evaluating what changes need to be made and will address this in a future maintenance release.

Jeff, with the "Fiscal Cliff' bill passed and signed, is the SS Withholding as well as the tax rates going to stay the same now ??

[tborgal]

Neil,

Everything I have seen says that the SS is going back to 6.2%. Have not seen anything on what will happen with the tax rates. In any case, so much for the no tax increase for the middle class.

[Zaina]

The rates were changed again this morning on the IRS website. Search for Notice 1036. SSI employee went back to 6.2% and the annual rate tables changed again as well.

http://www.irs.gov/pub/irs-pdf/n1036.pdf

[NeilZ]

The rates were changed again this morning on the IRS website. Search for Notice 1036. SSI employee went back to 6.2% and the annual rate tables changed again as well.

http://www.irs.gov/pub/irs-pdf/n1036.pdf

Well ... how about that ... after all the fuss the media made about that 2% and the cliff, it still reverts back to the old rate ... thanks for that info, Zaina

[cindybowen]

Can anyone tell me exactly how to update the 2013 tax tables?

[NeilZ]

Can anyone tell me exactly how to update the 2013 tax tables?

If you go to the Knowledge Base area under the main SUPPORT menu of the Powerchurch main page, and search on tax tables, you'll get a list of all the states and how to update their tables.

I did such a search on federal tax tables, and pulled up this article:
https://www.powerchurch.com/support/kb. ... 140&type=1

You can also get the procedure on how to do this by bringing up the tax table and pressing the F1 key to pull up the online help.

[cindybowen]

Very helpful!!!!! However, I would love for someone to take a look at the tables to verify that I've done the right thing, put in the right numbers, etc. Is there anyway to show my tax table here?

[NeilZ]

Very helpful!!!!! However, I would love for someone to take a look at the tables to verify that I've done the right thing, put in the right numbers, etc. Is there anyway to show my tax table here?

Unfortunately no ... however, if you look at the IRS table, and the Powerchurch table, they should have the same numbers for the various monetary levels and percentages.