Federal Payroll Information 2008 - Sponsored Whitepaper

Federal Payroll Information effective January 1st, 2008

This information was pulled from the Federal Government's Circular E, Employer's Tax Guide. Please set this up in your Payroll Executive Menu before you run your first payroll for 2008 (assuming you have closed the 2007 payroll year).

Under Payroll Utilities Menu in the Special Company Maintenance

Change Employee Social Security Wage Limit to: $ 102,000.00 6.20% Change Employer Social Security Wage Limit to: $ 102,000.00 6.20%

Change Employee Medicare Wage Limit to: $ 999,999.99 1.45% Change Employer Medicare Wage Limit to: $ 999,999.99 1.45%