US gross up split taxes

[Former Member]

Hi Experts!

I know that USTAX function calculates taxes and gross up for an amount using model wage types M031 & M032 for gross up and M033 for only generated taxes but we need to split that information in M033:

For example:

For an EE that uses WT 2514 for the net:

a. WT 2514 for $400.00 u2013 net amount posted to income

b. WT 6006 for $192.16 u2013 sum of taxes for c-f below is added to income for Fed, State, Social Security and Medicare taxes (employee had reached FICA limit in this example)

c. /401 Fed -Fed Taxes for $148.04 u2013 Supplemental federal tax rate of 25% of WT 2514 plus WT 6006

d. /401 State - GA State Taxes for $35.53 u2013 Supplemental Georgia state tax rate of 6% of WT 2514 plus WT 6006

e. /405 Medicare - Medicare Taxes for $8.59 u2013 Medicare tax rate of 1.45% of WT 2514 plus WT 6006

f. /403 Social Security - Social Security Taxes for 0.00 u2013 Social security tax rate of 6.20% not applied to WT 2514 plus WT 6006 because YTD limit of $6621.60 taxes/ $106,800 wages met

We visibility to any amounts added to income by tax bucket for Tax Equalization purposes, is there a way to store these taxes by separate instead of $192.16 before they merged with regular ones?

Thanks!

[Former Member · Accepted solution]

What is the reason behind this requirement? why do you need these taxes to be stored in custom WT?

[VamsiK]

HI...Did you ever get to implement this at your client?? we have the same requirement now from the business and I couldn't find an answer anywhere...