Business Software, Inc. (BSI), a leading provider of U.S. payroll tax profile, tax calculation, tax deposit, tax filing, garnishment and supporting solutions in the cloud, updated the tax tables within its TaxFactory payroll tax calculation software in accordance with the latest Internal Revenue Service (IRS) withholding tax table information for 2018. The IRS released its income tax withholding tables on January 9, 2018 reflecting adjustments made by the tax reform legislation (Tax Cuts and Jobs Act – 115-97) on December 22, 2017. To provide customers with the latest, most accurate tax tables, BSI promptly updated its data within TaxFactory, providing customers with the new information.
Employers are advised by the IRS to begin using the 2018 withholding tables no later than February 15, 2018.
These changes currently apply only to federal tax withholdings. As state and territory tax changes follow suit, BSI is ready to update its solutions to offer customers the latest, most accurate data.
“For almost four decades, we have provided value to our clients by offering the most up-to-date payroll tax information available, as quickly as possible,” said Russell Rindik, BSI Vice President of Operations. “We are proud of our efforts to stay abreast of all the changes occurring at the federal, state, and local levels and to keep our customers and partners apprised of what they need to know in order to calculate payroll taxes correctly.”
BSI is a leading provider of the largest array of U.S. payroll tax configuration and onboarding, tax calculation, and tax filing, and garnishment solutions in the cloud. Leveraging nearly 40 years of experience, BSI is a single-source vendor, offering the most comprehensive and complete solutions in the industry. Thousands of organizations use BSI solutions in their payroll management processes to help minimize their compliance risks, reduce labor costs, maintain regulatory compliance, improve workforce productivity and increase employee satisfaction. For more information about BSI, please visit http://www.bsi.com.
BSI’s TaxFactory™ Updates Tax Tables in Accordance with IRS for 2018
Source: HR.com Articles