Update – Microsoft has republished the Round 1 (12/16/2021) Dynamics GP updates with the new State and Federal tax table changes. Download the update here. This new update is still dated December 16, 2021 but includes the following items:
Changes in January Round 1 update
- ICA Social Security Limit $147,000
- Federal tax tables added 12/30/2021
- California
- Georgia
- Iowa
- Kentucky
- Maine
- Maryland
- Michigan
- Missouri
- Nebraska
- New Mexico
- New York
- Oklahoma
- Oregon
- South Carolina
- Yonkers
2022 Federal tax changes
The maximum taxable earnings for Social Security increase in 2022 to $147,000 from $142,800.
Federal tax tables released 12/30/2021
The Personal Exemption is $4,300 for SINGLE, MAR, HOH, NRA
* For more details on the Update, visit the Microsoft Dynamics GP U.S. 2022 Payroll Tax Update page.
How to tell if I have the 2021 or 2022 Federal Tax tables installed?
Here’s a helpful hint from our Dynamics GP guru Terry Heley at Microsoft. To verify which tax tables you have installed, check the amount showing for Head of Household in Tools / Setup / System / Payroll Tax. Then choose FED for Federal and select HOH for Filing Status. The first row will then display, $10,200 for for 2021 and $10,800 for 2022.
2021 Federal Tax Tables Installed:
2022 Federal Tax Tables Installed:
Upcoming Changes:
North Dakota and Wisconsin, keep watch for state changes around January 21, 2022. For Wisconsin, this will include a CODE CHANGE.
If you have questions, or need assistance, please reach out and our expert Dynamics GP support staff can assist you. Email us at sales@crestwood.com or call (847) 394-8820.
