2017 Tax Tables were uploaded prior to the end of 2016. When we ran our 12/31/16 payroll, the system used 2017's FICA wage limit of $127,200 instead of 2016's limit of $118,500. For 2017, the system used 2016's limits instead of 2017s. Can you offer me an explanation of how the system could have been bypassed to use the incorrect limits?
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Yes, while the Year-end updates can be installed prior to the new year, you will not want to apply the next year tax rates until the last payroll of the preceding year has been completed.
Additional year-end details can be found at: https://community.dynamics.com/gp/b/dynamicsgp/archive/2017/11/01/draft-microsoft-dynamics-gp-year-end-update-2017-u-s-payroll
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