EDIT: 12/29/2021 ** The 2022 publications published to the IRS website, (https://www.irs.gov/pub/irs-pdf/p15.pdf) and (https://www.irs.gov/pub/irs-pdf/p15t.pdf) do not differ in values from those values used in the below 12/02/2021 post using IRS draft information. Please follow the instructions below. **
The following table changes may be made for Payroll for 2022 understanding that the values presented are draft values retrieved from their indicated IRS URLs. The IRS has not released finalized documents as of this post's date of 12/02/2021.
“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 2022 p15-circular E not available at this time - official IRS 2022 p-15 draft used (https://www.irs.gov/pub/irs-dft/p15--dft.pdf).
2022 p15-draft (as of Oct 20, 2021) Circular E:
Bracket 1: 7.65%, base 0, limit 147000
Bracket 2: 1.45%, base 11245.50, limit 200000
Bracket 3: 2.35%, base 12014.00, 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 2022 tax tables pre-release (https://www.irs.gov/pub/irs-prior/p15t--2022.pdf), downloaded and used attached spreadsheet, 4th Sheet "1B % Method Tables - Automated", "married filing jointly" (right side set of columns):
Bracket 1: .00%, base .00, limit 12950
Bracket 2: 10.00%, base.00, limit 23225
Bracket 3: 12.00%, base 1027.50, limit 54725
Bracket 4: 22.00%, base 4807.50, limit 102025
Bracket 5: 24.00%, base 15213.50, limit 183000
Bracket 6: 32.00%, base 34647.50, limit 228900
Bracket 7: 35.00%, base 49335.50, limit 336875
Bracket 8: 37.00%, base 87126.75, limit 9999999
Employer Adjust: 0%
(the withholding allowance, as used prior to 2020, is still removed for 2022)
Exempt Amount 1, 2 and 3: 0.00
Tax Table F/M: FIS: Federal Single
Official IRS 2022 tax tables pre-release (https://www.irs.gov/pub/irs-prior/p15t--2022.pdf), downloaded and used attachment spreadsheet 4th Sheet "1B % Method Tables - Automated", "single or married filing separately" (left side set of columns):
Bracket 1: .00%, base .00, limit 4350
Bracket 2: 10.00%, base .00, limit 14625
Bracket 3: 12.00%, base 1027.50, limit 46125
Bracket 4: 22.00%, base 4807.50, limit 93425
Bracket 5: 24.00%, base 15213.50, limit 174400
Bracket 6: 32.00%, base 34647.50, limit 220300
Bracket 7: 35.00%, base 49335.50, limit 544250
Bracket 8: 37.00%, base 162718.00, limit 9999999
(the withholding allowance, as used prior to 2020, is still removed for 2022)
Employer Adjust: 0% Exempt Amount 1, 2 and 3: 0.00
