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Tax Subscription News
for year 2018

    The 2018 tax update is now available.

 

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Tax Update
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1040

This is your page for State and Federal Tax update news.

The IRS has released their new rate structure.

 

There are still 7 tax brackets. Top bracket is 37%.

 

The Social Security and Medicare rates are the same as last year. The Social Security base limit is $128,400. The additional Medicare tax for those earning over $200,000 is still .9%

 

This tax subscription supports all state taxes. The states marked with an "*" have released their new tax rates for 2018 and have been updated at this time.


Alaska *Kentucky *New York
*Alabama Louisiana Ohio
Arkansas Massachusetts Oklahoma
Arizona Maryland Oregon
*California Maine Pennsylvania
*Colorado Michigan Rhode Island
Connecticut *Minnesota *South Carolina
*Dist of Columbia Missouri South Dakota
Delaware Mississippi Tennessee
Florida Montana Texas
Georgia North Carolina Utah
Hawaii North Dakota Virginia
*Idaho Nebraska Vermont
Iowa Nevada Washington
*Illinois New Hampshire Wisconsin
*Indiana New Jersey West Virginia
*Kansas *New Mexico Wyoming

There are no taxes for states that are crossed out.

Pretty much the same as last year except for adding a line to enter a tax credit.

 

There is a change in the file structure that requires an update. If you did not get the prompt to update the Mag Media, please download again and apply the update.

Accuwage for tax year 2018 is available for testing your Mag Media report. Download here and look under 'Quick Links' at the top of the page.

 

There is a new code for Box 12... Code FF is for "Permitted benefits under a qualified small employer health reimbursement arrangement". If this applies to you please let us know and we will accommodate.

 

 

 

For employers with over 50 employees, reporting on the Form 1095-C is again required. The ability to print this report and it's transmittal form 1094-C is included in this tax subscription.

Please note: We will NOT be able to supply the electronic transmission of this form that is required of employers of over 250 employees. If needed, please consult with your insurance provider or one of the many 3rd party suppliers of this service.