In addition to the changes to the Federal tax tables for 2007, there are also changes to Advanced Earned Income Credit tables. Prior to running your first payroll with a 2007 check date, please change your tax tables in TAX TABLE MAINTENANCE as shown below. The menu navigation depends on which version of Payroll you have; If you have PayX Client/Server, go to SPECIAL FUNCTIONS, FILE MAINTENANCE, TAX TABLE MAINTENANCE; if you have PayX Character-Based, go to Menu 5-2; if you have old Payroll Character-Based, go to Menu 1-7. There are three sets of codes (however, you may have only one set that needs to be changed): EIC and FWTC; EIC2 and FWTD; or EIC3 and FWTB. Please refer to your documentation for specific input instructions and to your most recent Circular E for further guidelines.
NOTE: The FWTC table is created by copying the FWTS table; the
FWTD and FWTB tables are created by copying the FWTM table.
Table setups for all three codes can be found over the following pages (PayX Client/Server is used for these examples).
Creative Microsystems, Inc.
Payroll Procedures
Advanced Earned Income Credit, Page 1
Advanced Earned Income Credit Tax Tables for 2007
Advanced Earned Income Credit
(Single or Head of Household)
Advanced Earned Income Credit
(Married w/both spouses filing a certificate)
Creative Microsystems, Inc.
Payroll Procedures
Advanced Earned Income Credit, Page 2
Advanced Earned Income Credit Tax Tables for 2007
Advanced Earned Income Credit
(Married w/only one spouse filing a certificate)
End of Section Advanced EIC Tax Tables 2007
Creative Microsystems, Inc.
Payroll Procedures
Advanced Earned Income Credit, Page 3
Advanced Earned Income Credit Tax Tables for 2007
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AdEICtaxtbl2007.doc
Last modified on 12/21/2006 by JJB
Creative Microsystems, Inc.
Payroll Procedures
Advanced Earned Income Credit, Page 4