Published on Wednesday, January 02, 2013
As of Jan 1, 2013, the FICA credit for employees has expired,
the rate of 4.2% has been increased to 6.2%.
Please refer to the Known Issues release below for details on
how to manually change this rate to 6.2%.
**PayPlus Federal FICA Employee Tax Credit/Rate Change 12/26/2012**
The Tax Relief, Unemployment Insurance and Job Creation Act of 2010 reduced employee
Social security tax rate starting in 2011 and is due to expire December 31, 2012. Due to recent tax talks
on whether this tax relief will continue in 2013 or expire, PayPlus has opted to leave the EE rate
at 4.2% on our 7.9.6 tax update.
Prior to processing payrolls for 2013, you will need to confirm whether the employee's Social security
rate has remained at 4.2% or increased to 6.2%. If there has been an increase then you will need to
follow the steps below to change the CFI tax code in PayPlus for the 2013 data year.
These steps should not be completed in any other data year.
Log on to www.payplus.com. Access the Known Issues section for details.
Thank you,
The PayPlus Software Team
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