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tax changes to payroll suggested by the president

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Posted on by TKC 165

Has anyone heard of guidance from Microsoft or other GP users on implementing the payroll tax deferral that the president is calling for? Might never go into place anyway. But if it does we are going to need some guidance. Lots variable that are not clear at the moment. How was it handled during the previous payroll tax holiday actually passed by congress? I wasn’t working with payroll back then so not sure how software navigated that. And that was an actual tax holiday, not just a deferral. Any help here will be much appreciated.

thank you so much

Categories:
Human Resources and Payroll
  • DiannFariss Profile Picture
    DiannFariss 21 on at
    RE: tax changes to payroll suggested by the president

    When will Microsoft be releasing their recommendations?  I don't see anything yet on the Dynamics GP Support and Services Blog. 

    Thanks!

  • Suggested answer
    Justin Sutton Profile Picture
    Justin Sutton on at
    RE: tax changes to payroll suggested by the president

    Hello,

    We are planning on releasing documentation on recommendations we have. That said, this is completely optional and up to the employer, so each employer will be setup slightly differently.

    Keep an eye on the GP Support and Services blog in my signature.

  • GP Accounting User Profile Picture
    GP Accounting User 10 on at
    RE: tax changes to payroll suggested by the president

    Any guidance on how to set this up in GP PR now that it has become an Executive Order? Employees want their 6.2% reduction and this goes into effect next week - Sept 1st.

    Thank you

  • Suggested answer
    Justin Sutton Profile Picture
    Justin Sutton on at
    RE: tax changes to payroll suggested by the president

    Hello!

    As everyone else pointed out, it takes time for specifics to come down the pipe far enough for us to feel comfortable providing guidance on something like this. That said, when the time comes we will be providing whatever information we are able to. We will almost always default to posting on our Support blog (base link is in my signature), like Terry did previously:

    community.dynamics.com/.../tips-to-setup-coronavirus-paid-leave-in-microsoft-dynamics-gp

    If there are changes that need to be made to the product itself to handle the changes, it will be included in the year-end payroll update that releases for all "Mainstream" GP versions. In rare cases, we may release hotfixes as needed. More information on what it means to be "Mainstream" and just general information regarding how GP is updated, can be found here:

    community.dynamics.com/.../what-does-modern-lifecycle-mean-for-microsoft-dynamics-gp

    Hopefully this alleviates some of your worries.

  • Richard Wheeler Profile Picture
    Richard Wheeler 75,730 on at
    RE: tax changes to payroll suggested by the president

    Deanne is right. At this point in time nothing has been agreed upon. At the rate we are going and everyone working virtually we will start getting paid virtually. That means you will pay your taxes virtually.

  • Deanne Rasmussen Profile Picture
    Deanne Rasmussen 115 on at
    RE: tax changes to payroll suggested by the president

    don't put the cart before the horse!

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