Federal Income Taxes (2020 W4)
Posted: Tue Mar 14, 2023 5:58 am
Hello all!
I'm assuming that I am simply missing an obvious step, but I'm attempting to run my first payroll for our single employee. I realized that the Federal Income Tax was set for the 2019 W4, so I went into the Payroll -> Taxes and changed it to the 2020 Version but now it no longer calculates the Taxes on the employee stub, it is just removed from the deductions all together.
If I set it back to 2019 and earlier, it works again and calculates, and appears in the deductions.
I've re-checked both the Payroll -> Tax setting, and the Employee -> Tax setting, and they both say 2020, non-exempt, and all have 0's for the additional withholding values. The only thing that I have adjusted is the 'Form Version' drop down.
I have also checked by using an 'additional' withholding value of $1.00, and that does come out of the employee's payroll, so somewhere the auto-calculation isn't working but I'm not sure why. I am still 'in' the current pay period (ends 03/14 at midnight), but that didn't seem to affect the 2019 version.
Sorry if this is a duplicate question, I did not see this particular issue in the forums.
Thank you for your assistance!
I'm assuming that I am simply missing an obvious step, but I'm attempting to run my first payroll for our single employee. I realized that the Federal Income Tax was set for the 2019 W4, so I went into the Payroll -> Taxes and changed it to the 2020 Version but now it no longer calculates the Taxes on the employee stub, it is just removed from the deductions all together.
If I set it back to 2019 and earlier, it works again and calculates, and appears in the deductions.
I've re-checked both the Payroll -> Tax setting, and the Employee -> Tax setting, and they both say 2020, non-exempt, and all have 0's for the additional withholding values. The only thing that I have adjusted is the 'Form Version' drop down.
I have also checked by using an 'additional' withholding value of $1.00, and that does come out of the employee's payroll, so somewhere the auto-calculation isn't working but I'm not sure why. I am still 'in' the current pay period (ends 03/14 at midnight), but that didn't seem to affect the 2019 version.
Sorry if this is a duplicate question, I did not see this particular issue in the forums.
Thank you for your assistance!