Summary
The Federal Tax Table Update tool is used to update existing FED tax table records to meet new IRS requirements.
Step by Step
1 Open the Federal Tax Table Update window (PR> Utilities> Federal Tax Table Update).
2 Update the FED tax table records.
- The Federal Tax Table Update window will display all the FED tax tables in the system.
- Tax tables are created and maintained on the Tax Table Maintenance window (PR> Maintenance> Tax Table).
- The Code column displays FED as only Federal tax tables will be pulled into the tool.
- The Year column displays the latest IRS year.
- The Filing Status column allows users to select a new filing status for the tax table.
- Click the drop-down menu in the column field to select the new filing status for the tax table.
- The Description column displays the description associated with the tax table record.
- Once the Filing Status has been updated, click the Save icon to update the FED tax tables.