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US Payroll Instructions |
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US Federal Withholding Instructions Enter the number of claimed exemptions in the Fed Exemptions field in each Employee account. Use the following to determine the value for the Marital Status popup menu in each Employee account:
NOTE: A few states use slightly different conditions for the marital status choices. Follow the links below to see specific instructions for your state. If an employee claims additional federal withholding on their W-4 form, enter it into the Fed Withholding field in Employee account record (click the Payroll Setup button to see it). Goldenseal will automatically calculate the correct federal withholding for each pay period. FICA EMPLOYEE WITHHOLDING The employee withholding rate for Social Security was reduced temporarily, from 6.2% to 4.2%, starting Jan 1, 2011. At the last minute, the reduction was extended for two months (until March 1, 2012). It may be extended again but it's subject to highly partisan politics and probably will go down to the wire again. Earned Income Credit The option to get advance payments of the EIC tax credit expired on Dec 31, 2010. Taxpayers can still get a credit when they file their tax return, and they may adjust their withholding allowances to reduce withholding amounts. However they won't be able to get a credit added to their paychecks for wages in 2011 or later. We still are keeping the 2010 EIC tax tables available, in case the credit advance is reinstated (although with a Republican House that is unlikely). If you previously gave the EIC tax credit to some of your employees, follow these steps to remove it for wages in 2011 or later:
Alabama | Alaska | Arizona | Arkansas | California | Colorado | Connecticut
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