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Social Security taxes
Hello!
We seem to have a problem with Basic Payroll. It appears that calculations for the cutoff of withholding social security taxes is including a deduction for the 401K retirement plan. If the employee has earned $97,500 (gross wages less health/dental/HSA), social security tax withholdings should cease. The system appears to be calculating the earnings on gross wages less health/dental/HSA less retirement.
Is it possible that we have some setting incorrect somewhere?
Thanks for any help anyone can give.
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