What's new in Customer Journeys?

Connect and learn more!
FUTA Tax calculation not considering prior legal entity/PSU FUTA balances — Cloud Customer Connect
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

FUTA Tax calculation not considering prior legal entity/PSU FUTA balances

Accepted answer
53
Views
5
Comments

Summary:

We have multiple PSUs and when an employee moves from one PSU to another, FUTA tax limits are reset. For example, if the $7000 FUTA limit has been reached with the current legal entity A(PSU) and then a global transfer happens into legal entity B(PSU), FUTA gets calculated again and does not consider the prior amount paid ($7000 - Tax Limit). Since the FUTA limit of $7000 was reached earlier we do not want this to calculated again.


Also, we do not want to transfer balances to the new PSU/Legal entity as this impacts W2s and quarter/year end processing

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!