I have installed the 12/16/2016 payroll tax update and the Social Security Wage Limit didn't change. It still has 2016 and the limit is showing 118500.00. How can I change this for the 2017 year.
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Thank you! That helped a lot.
You can edit the tax tables using Tools > Setup > System > Payroll Tax and selecting code EFICS, click on "Filing Status", select "NA", then click on "Tables". You will be able to edit the "But Not Over" amount from $118,500 to the new 2017 value of $127,200. Then repeat this for the FICAS code.
My main concern with this manual edit is that there may be other tax tables that are incorrect as well. I would suggest you investigate why your tables did not get updated with the new values.
Hope this helps!
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