2009 Stimulus Tax Tables
The Internal Revenue Service has released new withholding tables. The new tables incorporate the new Making Work Pay credit, one of the key tax provisions included in the American Recovery and Reinvestment Act of 2009 that became law in February.
The IRS asks that employers start using these new tables as soon as possible but not later than April 1. Most workers will see a boost in their take-home pay soon thereafter.
Employees will not need to submit a Form W-4 for the automatic withholding change. Individuals and couples with multiple jobs may want to submit revised Form W-4 forms to ensure enough withholding is held to cover the tax for the combined income.
Many higher-income taxpayers will see little or no change in their take-home pay. That is because the Making Work Pay credit is phased out for a married couple filing a joint return whose modified adjusted gross income (AGI) is between $150,000 and $190,000 and other taxpayers whose modified AGI is between $75,000 and $95,000.
Taxpayers will not get a separate, special check mailed to them from the IRS like last year's economic stimulus payment.
If you are running version 8.45 please follow the instructions listed below.
Note: If you are running a version greater then 8.45 or lower than 8.45 you will need to connect us for an updated CD. ( 941-365-1162 )
To download the 2009 Stimulus Tax Tables updated February 23, 2009, please click -> HERE <- .
- You can either run the program in place by clicking on Open or download the file by clicking on Save.
If you wish to save the file we recommend you save the file directly into the C:\PCSW folder. This will make it easier to find.
After downloading the file look for a file called Sysnew45.exe and double click on it to install the update.
NOTE: You must not be in the program while installing this update.
- Once the update is installed you will need to run the option Get Updated Tax Tables to update the Federal tax tables.
Utilities -> System Utilities -> Get Updated Tax Tables After Update
Note: I screen should open and close, saying it's coping from Master.
- To update the EIC tables run.
Utilities -> System Utilities -> Process System Data Update
Note: A big "PLEASE WAIT" will appear. Wait for it so disapper.
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