MANAGE FEDERAL TAX TABLES  

Use this screen to establish and maintain the Federal Income Tax Withholding Tax Rates that are used to withhold Federal Income Taxes from the employees' paychecks.

Load the existing tables when initializing Costpoint, and modify the tables whenever they become outdated, per Federal publications and the Tax Tables updates. (The current tax tables are loaded in Costpoint. You receive copies of the new Tax Tables semi-annually in February and August when the new tables are created.) These tables must be current before your first payroll of the new calendar (payroll) year is processed. To modify existing information for an Effective Date, click to retrieve the record, and then change the applicable line data. To add new information for an Effective Date, click and enter the new record.

Location

Identification

Effective Date

Enter, or click to select, the date on which the tax becomes effective. The system format for this field is MM/DD/YYYY. Pay periods having a pay cycle end date the same as, or later than, the Effective Date use the related tax table rates.

Filing Status

From this drop-down list, select the filing status that applies, Married or Single. Separate tables are maintained for each filing status.

Federal Tax Table

If you have installed the tables supplied by Deltek, you can click to select and view the information. If you find additions are needed, click . Load the table with the rates that apply to each Filing Status. This table is very similar to the "annual" method table in your appropriate year Circular E IRS Publication.

For Taxable Income Over

This column displays each level of taxable income.

Base Tax

This column displays the amount of base tax at each level.

Percent of Excess

This column displays the tax rate for the excess of income over the taxable income in the first column.