What needs to be done if only the Vertex update was applied and my FUTA taxes self-adjusted?
What needs to be done if only the Vertex update was applied and my FUTA taxes self-adjusted?
Answer:
In order to ensure the correct FUTA tax rate as of July 1, 2011 and that the taxes did not self-adjust for the first half of the year, two things were needed. The June 2011 Vertex update needed to be applied that contained the rate change and a code change from JD Edwards was required to prevent the self-adjusting. If the code change was not applied and taxes did self adjust for employees for the first half of the year, they will need to be manually corrected for each employee. It is recommended that an interim is entered with an override