Express Accounting – Tax Update 2018

2018 Tax Tables (January 12, 2018)

While much effort has been made to provide accurate information herein, we make no claims about the accuracy of this information and do not take responsibility for any errors.  We recommend you check all figures with the IRS Notice 1036.

The IRS has not issued the 2018 Circular E.   However, they have issued IRS Notice 1036 with the new tax rates.  In all my years of updating tax tables, this is the first time I have seen the rates go down.  It is about Time.

If you are running version 6.1 or later of ExpressAccounting, you should just download and install the latest ExpressAccounting update (version 8.4.1) which will automatically update your tables to reflect 2018. – Click Here For Update Page. Note: Do not install this update until you are finished with all 2017 payroll.

You will need to manually update your state tax table percentages if they have changed.

If you are on an older version of ExpressAccounting, we are not able to provide automated updates for the 2018 tax tables. However users can easily edit the tax tables manually to reflect the 2018 deduction requirements.  To do so, follow the instructions below.

1. Click on Payroll / Setup

2. Click on the Setup Tab

3. Make sure the Social Security Limit figure is set to $128,400.00 as shown below.  Post when completed.

4. Click on the Deduction Tables Tab

5. Click the Next button until the Federal – Married table appears

6. Edit the data to reflect as the screen shot below, post when completed.

7. Click the Next or Previous buttons until the Federal – Single table appears.

8. Edit the data to reflect as the screen shot below but, post when completed.

9. Click the Next or Previous buttons until the FICA table appears.

10. Edit the data to reflect as the screen shot below but, post when completed.

11. Click the Next or Previous buttons until the Medicare table appears.

12. Edit the data to reflect as the screen shot below, post when completed.

The deduction tables are based on the Notice 1036 Percentage Method Tables provided by the IRS website.

Below is a screen shot of the deduction percentages from the IRS Notification.   Note that the annual percentages are all that are entered as ExpressAccounting converts to the applicable pay period.  Users can easily update tax tables manually in a matter of a few minutes.

Note: If your state uses tax tables you may need to edit your state tables in the same manner according to your state guidelines.

W2 Printing

2018 W2 printing is expected to remain the same.  However, if we find that the document form has changed, we will make updated reports available.