PayCalc Development and Fixes

PayCalc Developments and Fixes

2017.00 - 12/23/2016 (Initial Release)

Improved Program Execution. Program code has been improved to generate faster and more efficient program execution.
Automatic Program Update Checking. The program will now automatically check for updates every 15 days. Manual program update checking is still available.
Draft Tax Forms Copy. A draft copy of Form 941 and Schedule B (Form 941) as of June 28, 2016 have been included as per IRS revision in order to accommodate Form 8974 (Qualified Small Business Payroll Tax Credit for Increasing Research Activities).
Proposed FUTA Tax Computation There is a proposal to increase the federal taxable wage base from $7,000 to $40,000 in 2017. The increase in the taxable wage base would be offset by a decrease in the net FUTA tax rate, which would be lowered from 0.6% to 0.165%. The issue here is that, for states to receive full FUTA credit, the state must have a SUTA wage base equal or exceeding the federal wage base. With the reduction in FUTA percentage, it is possible that the FUTA credit becomes moot, we’ll keep you updated on this issue. This proposal has not been factored in to the program; we are still using a FUTA wage base of $7,000 and a rate of 0.6% until we find out otherwise.

2017.01 - 03/06/2017

Added. Support for printing and filing Forms 941, 941-V and Schedule B (Form 941).
Added. Support for printing and filing Forms W-2 and W-3 for 2017.
Modified. Updated Box 12 codes on Form W-2 for 2017. A new "FF" code was added to support Permitted benefits under a qualified small employer health reimbursement arrangement.
Modified. The Current Employee Payroll Jounal Report will now print the payroll period and the pay date, also, the employee's pay check number will be printed instead of the last four digits of the SSN. The month, quarter, and year-to-date Employee Payroll Journal reports will be unaffected by this modification.
Added. The Prior Earnings Statement window will now allow the printing of a Prior Employee Payroll Journal.
Added. The Custom Period Payroll Report window will now allow the printing of a Custom Period Payroll Journal.
Modified. Fortified the error checking capabilities of the social security number data entry field to ensure the accuracy of the data entered.
News. It has been determined that the FUTA taxable wage base will remain at $7,000 and the rate at 0.6% for 2017.

2017.02 - 09/20/2017

Added. Box 9 on Form W-2 (Verification Code). For information on this new field see https://www.irs.gov/individuals/w-2-verification-code
Added. Draft copy of Form 940 for 2017 as of July 5, 2017.
Added. Draft copy of Schedule A (Form 940) for 2017 as of July 12, 2017.
Added. Draft copy of Form 1094-C for 2017 as of July 27, 2017.
Added. Draft copy of Form 1095-C for 2017 as of August 14, 2017.