Mark,Good tip! We'll keep that in mind as we adjust our process moving forward, so as not to miss an important tax update.Can I ask, do you happen to know off the top of your head whether when we do go ahead and run a tax update, presumably that will update us to the most recent round (i.e., Round 6 released 7/15/2022), the calculations that run behind the scenes on the next pay run, does the system just look at the gross wage for that one check, or does GP attempt look at YTD amounts and attempt to "true-up" any previous under/overwithholding (thinking about the Federal Income Tax) via one larger adjustment to the first paycheck after the application of the updated tax tables?
In other words, my anticipation is that, we may be in a situation where we've slightly overwithheld (and remitted) from employee paychecks ytd, based on my best understanding of the 2022 tax tables versus the 2021 tax tables. In any given period, this appears to be a relatively minor amount. However, we are now in August, so we've run 17 of our 26 pay dates so far. I'm wondering if GP will attempt to makeup that overwithholding on the first check after the tax update is applied, or does it just run the calculation on the wages reflected on that singular paycheck?I think we're going to run a test check in our test environment to see if we can figure it out ourselves, but thought I'd at least ask in case anyone on this forum has any experience with such a situation.
If you've found this thread useful, dive deeper into User Group community content by role