2020 tax tables

Journeyman

2020 tax tables

We have updated our tax tables to have the 2020 tax rates. When I key in a new employee I get an alert that the Federal Tax Table is not on file. In addition, we are trying to run payroll and on the pre calculation journal we get the exception "annual federal tax credit greater than withholding" and suggestions?

 

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Community Support Expert
Community Support Expert

Re: 2020 tax tables

Hi! @dhamberger,

 

The alert "Federal Tax Table is not on file" occurs when the 2020 Annual Federal Tax Table file is not properly loaded.  We recommend using the Generate option in the Federal Tax table to calculate the bi-weekly, monthly, semi-monthly, and other pay frequencies you may need once you have posted the table from the Future Changes Federal Tax option.

 

After calculating the employee withholding based on the new withholding worksheet, if the annual tax credit of the employee is greater than the federal withholding then such employees will have zero federal withholding.  If any amount is taken out from employees with zero withholding, then an exception "annual federal tax credit greater than withholding" occurs on the screen.


Muskan Sehar

PowerSchool Community Moderator


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