Lynn_Pantic
Administrator
   

evolution (n) - gradual change to a different form
Posts: 5663
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The new (for 2011) employee withholding of 4.2% (was 6.2) for FICA needs to be entered in PR-M because it is stored in the payroll division and not the tax table. While you are there, confirm the Medicare rate of 1.45% for both employer and employee and the FICA limit of $106,800. Updated tax tables and PR-B program will be available before 1/3/11 Make sure you print your 4th quarter 2010 941 before you make these changes because the 2010 calculation needs to use the old rates.
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