Federal Tax Table - March 2009 

 

March 16, 2009

 

Dear Client:

As of March 2009 Federal Tax withholding rates have changed.

To adjust the rates in CHARTS do the following:

From any CHARTS menu type FEDTAX or [GM, 10, 8, 2, 1] and press ENTER.

The rates as shown in bold below have changed since December 2008.

(IRS CIR E ANNUAL)          FEDERAL TAX INFORMATION
                        Single                       Married
                  Rate       Cutoff              Rate       Cutoff
  level  - 1      10.00     7180.00              10.00     15750.00  
         - 2      15.00     10400.00               15.00     24450.00 
         - 3      25.00     36200.00             25.00     75650.00
         - 4      28.00     66530.00             28.00     118130.00
         - 5      33.00     173600.00              33.00     216600.00
         - 6      35.00     375000.00              35.00     380700.00
         - 7      .00       .00                    .00       .00      
 Annual Exemption           3650.00                          3650.00  
                               -- Earned Income Credit --
  Level  - 1      8950      20.40                  4475      20.40    
         - 2      16420     1826.00               10710     913.00   
         - 3      .00       .00                    .00       .00      
 Min/Max Rates    .00       9.59                   .00        9.59    
	  
  FICA  Employer  7.65      106800.00  Employee  7.65      106800.00 
        level 2   1.45      999999.00  level 2   1.45      999999.00
                                         Unempl  .80       7000.00  

Make the changes as shown above in bold and press ENTER.

Also, please note that March 31, 2009 is the deadline for submitting your 2008 Federal Social Security W2 Copy A. For instructions see 2008 Year-end Notes.

Thank you.

RHS, Client Service