I was a little surprised when I went into the Federal Tax Tables for 2021 and saw the FICA limit hadn't been updated. Looks like the tables are the exact same as 2020.
Does anyone know when these will be updated? Is there somewhere I can download the new tables separately? It's not that much data entry to do it manually but I would prefer none of our staff was in there messing around with the tables
You are correct, I won't be processing anything over the limit in January. The limit not changing is just what tipped me off that the tables hadn't been updated either.
What I'm trying to avoid is having a conversation with a client about why their net pay changed from January to February (assuming that is when the tables are updated) on a salaried employee. Not a big deal, just don't want to do it a whole bunch since the information is available.
Also, I've had a few issues with the 940. I know that became available in the last update, but perhaps that will be updated again soon. When I generate a 940, the FEIN is missing. For clients who have the SUTA exclusion credit, the system is pulling figures from 2019 (tax rate and table SUTA wages). That's not a huge hurry, just curios if anyone else has experienced that as well.
Regardless, thanks for replying. Have a happy new year!