Patch 128: January 2021 Payroll and Tax Table Update
This patch contains:
1) updated Federal and New York State Tax Tables for 2021, and
2) a program to reset the 2021 therapy threshold amounts.
Federal Tax Tables for 2021
The Federal Tax Table has been modified. This release automatically updates the Federal Tax table when the release is loaded.
The FICA limit for 2021 has been increased from $137,700 to $142,800 for both employee and employer. These limits are updated on this release. The FICA rates remain unchanged from 2020.
The Federal Tax Table for 2021 (Standard Withholding Rate Schedules) :
The Federal Tax Table for 2021 (Form W-4, Step 2 Checkbox Withholding Rate Schedules) :
New York State Tax Table for 2021
The New York State Tax Table has been modified. This release automatically updates the New York State table when the release is loaded.
Please note: For 2021 the SUI Contribution limit has been increased to $11,800.
The New York State Tax Table for 2021:
Resetting the Therapy Threshold Amounts Used
Please run the ‘SETLIMIT’ program to reset the limits after all ancillary charges for 2020 have been posted, but before 2021 ancillary charges are posted.
The SETLIMIT program [GM, 18, 12, 2 ] resets the 2021 therapy dollars used to zero.
The screen will Display “Press Enter – to reset Therapy Limits (Jan. ’21)“
At the point simply press Enter.
Please Note: For 2021 the therapy cap limit has been increased from $2,080 to $2,110. The 2021 limit is automatically set when the release is loaded. The additional limits remain unchanged at $3,000 for both PT and Speech combined and OT.