TAX TABLE CHANGES:
For this year (2019 Year End):
“These figures are general figures based on presupposed average filing situations – these
figures should be vetted with your own payroll/financial advisors and Employee W-4 data
for proper use. Infor will not guarantee these figures as up to date nor correct for your
specific use cases.”
These figures were generated from Draft documents --- they are tentative figures for
use “at your own risk” until the actual figures are released. Documents used are located:
https://www.irs.gov/pub/irs-dft/p15--dft.pdf
https://www.irs.gov/pub/irs-dft/p15t--dft.pdf
Figures below, in prior years, were from P15 tax tables for table 7 of that pdf (for
annual payroll period, having breakdowns for both Single and Married filing). These
figures have been changed and moved to P15t and are based on the employees most recent W4.
Early table figures were released by the IRS on this document:
https://www.irs.gov/forms-pubs/2020-percentage-method-tables-for-automated-payroll-systems
and are the figures represented below for FIM (the second set of figures focusing on the
first tier of “Married Filing Jointly”) and FIS (the first set of figures focusing on the
middle tier of “Single or Married Filing Separately”).
PLEASE NOTE: This is early release (draft) information published as of 12/23/19. It is your responsibility
to check and see if more current and/or final information published.
The following tax table changes should be made for 2020:
Deduction Code F/M: FICA
Max Contribution/YR for BOTH company match and employee should be set to 999999.99.
FCA: SS and Medicare
Bracket 1: 7.65%, base 0, limit 137700
Bracket 2: 1.45%, base 10534.05, limit 200000
Bracket 3: 2.35%, base 11437.40, limit 9999999
Employer Adjust: -.9% Bracket 3
Note that the employer adjust is a negative amount, and the bracket is the first bracket
to apply the adjustment to.
FROM TABLE 2020 year Percentage Tables:
FIM: Federal Married
Bracket 1: .00%, base .00, limit 12400
Bracket 2: 10.00%, base.00, limit 22275
Bracket 3: 12.00%, base 987.50, limit 52525
Bracket 4: 22.00%, base 4617.50, limit 97925
Bracket 5: 24.00%, base 14605.50, limit 175700
Bracket 6: 32.00%, base 33271.50, limit 219750
Bracket 7: 35.00%, base 47367.50, limit 323425
Bracket 8: 37.00%, base 83653.75, limit 9999999
Employer Adjust: 0%
(the withholding allowance, as previously used, has been removed for 2020)
Exempt Amount 1, 2 and 3: 0.00
FIS: Federal Single
Bracket 1: .00%, base .00, limit 3800
Bracket 2: 10.00%, base .00, limit 13675
Bracket 3: 12.00%, base 987.50, limit 43925
Bracket 4: 22.00%, base 4617.50, limit 89325
Bracket 5: 24.00%, base 14605.50, limit 167100
Bracket 6: 32.00%, base 33271.50, limit 211150
Bracket 7: 35.00%, base 47367.50, limit 522200
Bracket 8: 37.00%, base 156235.00, limit 9999999
(the withholding allowance, as previously used, has been removed for 2020)
Employer Adjust: 0% Exempt Amount 1, 2 and 3: 0.00
