There are changes to the Federal Tax Tables for 2008. As a courtesy, Creative Microsystems, Inc. provides this handout to reflect table changes. However, individual Payroll Administrators are responsible for reviewing IRS guidelines and for maintaining tax tables. Please change your tax tables in TAX TABLE MAINTENANCE, as illustrated on the next page. Use one of the following menu selections applicable to your system: Application PayX Client/Server Menu SPECIAL FUNCTIONS/FILE MAINTENANCE/TAX TABLE MAINTENANCE Menu 5-2
PayX Character-Based
The dependent allowance has changed to $3,500.00. The maximum gross for Social Security (FICA) for 2008 is $102,000.00. The maximum withholding is $6,324.40. Please change your deduction maximums in DEDUCTION MAINTENANCE. Use one of the following menu selections applicable to your system: Application PayX Client/Server Menu SPECIAL FUNCTIONS/FILE MAINTENANCE/DEDUCTION MAINTENANCE Menu 5-1
PayX Character-Based
Please refer to IRS Publication 15 (for use in 2008) (Circular E), Employer’s Tax Guide, for further information. The next page contains the TAX TABLE MAINTENANCE screen setup for Tax Codes “FWTM” and “FWTS” (PayX Client/Server is used for these examples).
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Federal Income Tax Tables for 2008
Federal Tax Married
Federal Tax Single
FedIncTaxTbls2008.doc
Last modified on 01/02/08 by DLP
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