Per IRS requirements, exemptions will no longer be used as of the 2020 calendar year. As a result, all fields were removed from this tab for calendar years greater than 2019.
Payroll > Tables > Tax/Deductions > Exemptions
This tab is used to list the IRS exemption allowance, based on payroll frequency (biweekly, semimonthly, or monthly). This allowance figure is found in the IRS Circular E and is updated annually (go to www.irs.gov/pubs to obtain a copy of this publication). The allowance is multiplied by the number of exemptions claimed by an employee on the Maintenance > Staff Job/Pay > Pay tab to calculate the IRS withholding from an employee's paycheck.
| Field | Description |
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| Calendar Year | Verify that the correct calendar year is displayed. If not, type the correct four-digit calendar year. |
❏ Click Retrieve.
❏ Under Pay Frequency, select the pay frequency (4 Biweekly, 5 Semimonthly, 6 Monthly) to be used.
| Amount of Allowance | Type the amount of the allowance (e.g., 250.00) for the selected pay frequency. This figure is found in the IRS Circular E, Percentage Method Amount for One Withholding Allowance table. |
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❏ Click Save.
| Retrieve |
The Retrieve button is also used to retrieve information from the last save. If you click Retrieve, any unsaved changes are lost. |
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| Delete |
Click to delete all tax tables for the calendar year except TRS rates. A warning message is displayed and prompts you to confirm that you want to delete all tax tables.
Click Yes to delete the tax tables for the calendar year.
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Click to print tax table data. The following Tax Table options are displayed:
Current Tab Page - prints only the tab page currently open.
FIT Exemption
All Code Tables - prints all the Tax/Deductions tab pages. |