PayCalc Development and Fixes

PayCalc Developments and Fixes

2020.00 - 12/20/2019 (Initial Release)

Added. Newly revised Form W-4 for 2020. Although employees are not required to file this new Form W-4 with their employer; it is required in order to take advantage of the new tax law. Form W-4 is accessible through a command button on the Employee File Maintenance.

Added. Two new fields on the Company Data entry form. Due to the fact that some states (i.e. NJ), have separated the maximum unemployment and disability tax from the employee and employer wages, it is now necessary to include these new fields (Maximum Employer Wages subject to State Unemployment/Disability Tax). The program will now perform separate calculations for state unemployment/disability employer and employee tax liability.

Added. Support for Head of Household (HOH) income tax withholding. For the first time, the IRS is supporting HOH income tax withholding and the program will fully support it.

Added. Two new check boxes on the Employee File Maintenance date entry form. A Single and HOH check boxes in addition to the Married check box in order to support the new HOH income tax withholding.

Modified. The Federal Withholding Tax Rates Tables and Payroll Processing Information for Calendar Year 2020 due to the new HOH income tax withholding. Also, the tax rate tables for 2020 were updated and the new social security wage base was also updated for 2020.

Modified. Program Code Optimization. Wherever possible or necessary program code has been optimized in order to improve performance.

2020.01 - 12/30/2019

Modified. The value of one (1) Federal Wihholding Allowance and some minor withholding processing data per the release of IRS Publication 15-T for 2020.

2020.02 - 02/21/2020

Added. Support for printing and filing forms 941 and 941-V for 2020.
Modified. For security purposes, social secuity numbers are now stored in a binary format in the employee file. Also, company and employee bank account numbers wil now be stored in an encoded format in the company and employee files.

2020.03 - 05/11/2020

Modified. The Maximum Employer Wages subject to State Unemployment/Disability Tax are now editable through the Employee File Maintenance and the Manual Entry window.
Added. Draft copy of Form 941 (as of April 29, 2020), for the second, third and fourth quarters of 2020. For the rest of 2020 the program will feature 2 versions of Form 941. One which will be available to any client file processing payroll in the first quarter and the other to any client file processing payroll in the second, third and fourth quarters.