01/02/2013 - New Payroll Tax Rates For 2013

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.