With the new tax reform bill signed into law in December 2017, many people are looking for the new Federal Withholding tax tables. According to an IRS statement posted on December 26, 2017:
“The IRS is working to develop withholding guidance to implement the tax reform bill signed into law on December 22. We anticipate issuing the initial withholding guidance in January, and employers and payroll service providers will be encouraged to implement the changes in February. The IRS emphasizes this information will be designed to work with the existing Forms W-4 that employees have already filed, and no further action by taxpayers is needed at this time.
Use of the new 2018 withholding guidelines will allow tax payers to begin seeing the changes in their paychecks as early as February. In the meantime, employers and payroll service providers should continue to use the existing 2017 withholding tables and systems.”
As soon as the IRS has finalized tax tables, Sage will work to create new updates for your product(s) that include these new federal withholdings, as well as any state changes that have been communicated to us.
Yes, look at KB article 89066 if you're using Sage 300 v2017 or 2018, it's all there
Is the Tax update for the new Federal withholding ready for the Sage 300? If so, where do I find the tax update
Do you know if the tax tables have been updated for Sage 300? If so, where can I get them?
Any update on when this will be released? Employers need to use the new rates by 2/15 and we need time to apply the updates. Please tell me the updates will be out in the next day or so.
Are the tax table updates available for Abra 9.2?
Are the tax table updates available for Abra 9.2 yet?
I apologize I was misinformed. You are absolutely correct that this update does not contain the Federal withholding changes. They are working on another update to send out shortly with those changes included.
Thank you so much! It looks like these are some state changes. It looks like the federal changes have not been made yet. If I understand it right we should keep an eye out for an SR2 for the federal updates. Is this correct?
The tax update is version 73D. The Quarterly Tax Update maintains the same version number from my understanding, and is just updated frequently as federal and state taxes are finalized. You should be able to find the update for the version of Sage 300 that you are using by going to this page.
Do you happen to know what the version is? The last tax version was v73D, will it be 73E?
Thank you, I haven't received it and it is not listed in my tax updates in the knowledge base. I will see if I can track that email down.
Sage 300 sent out a software notice on the 23rd at ~ 5pm ET with the new tax table updates.
Hello Kathleen, Any word on when Sage 300 will have their updates out? Thank you!
The "new" tax tables are not that different from the old ones...I'm surprised it is taking so long for you to update them. It should be a simple (ish) math problem...It isn't like they made structural changes to the withholding info...they just adjusted the brackets??
The update for Sage 50 - U.S. Edition was released yesterday, 1/23/2018. If you are not prompted to install when you close your software, you can download by going to Services, Check for Updates, Check Now.