The following table changes may be made for Payroll for 2021:
“These below figures are general figures based on presupposed average filing situations. Infor will not guarantee these figures as up to date nor correct for your specific use cases, i.e., the below data is not vetted as appropriate for all users nor all use cases and you should vet the values provided with your accountants and W4 employee situations, changing the values as advised by your accountant for your specific circumstances.”
Deduction Code F/M: FICA
Max Contribution/YR for BOTH company match and employee should be set to 999999.99.
Tax Table F/M: FCA: SS and Medicare
*Official IRS 2021 p15-circular E not available at this time - official IRS 2021 p-15 draft used - implement at own risk.
2021 p15-draft (as of Nov 30, 2020) Circular E:
Bracket 1: 7.65%, base 0, limit 142800
Bracket 2: 1.45%, base 10924.20, limit 200000
Bracket 3: 2.35%, base 11753.60, 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.
Tax Table F/M: FIM: Federal Married
Official IRS 2021 p15-T, page 6, "married filing jointly" (right side set of columns):
Bracket 1: .00%, base .00, limit 12550
Bracket 2: 10.00%, base.00, limit 22500
Bracket 3: 12.00%, base 995.00, limit 53075
Bracket 4: 22.00%, base 4664.00, limit 98925
Bracket 5: 24.00%, base 14751.00, limit 177475
Bracket 6: 32.00%, base 33603.00, limit 221975
Bracket 7: 35.00%, base 47843.00, limit 326700
Bracket 8: 37.00%, base 84496.75, limit 9999999
Employer Adjust: 0%
(the withholding allowance, as used prior to 2020, is still removed for 2021)
Exempt Amount 1, 2 and 3: 0.00
Tax Table F/M: FIS: Federal Single
Official IRS 2021 p15-T, page 6, "single or married filing separately" (left side set of columns):
Bracket 1: .00%, base .00, limit 3950
Bracket 2: 10.00%, base .00, limit 13900
Bracket 3: 12.00%, base 995.00, limit 44475
Bracket 4: 22.00%, base 4664.00, limit 90325
Bracket 5: 24.00%, base 14751.00, limit 168875
Bracket 6: 32.00%, base 33603.00, limit 213375
Bracket 7: 35.00%, base 47843.00, limit 527550
Bracket 8: 37.00%, base 157804.25, limit 9999999
(the withholding allowance, as used prior to 2020, is still removed for 2021)
Employer Adjust: 0% Exempt Amount 1, 2 and 3: 0.00
