2020 Tax Changes, Resources and GP Updates

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2020 Tax Changes, Resources and GP Updates

Are you up-to-date with the 2020 tax changes? Complex payroll administration is a major headache for many growing businesses. To help you out, we’ve summarized a few of the tax changes that may affect you this year.

Federal Payroll Tax Updates for 2020

The minimum salary level for White Collar exemptions increased from $455/week to $684/week; the social security maximum wage base increased to $137,700.

The 2020 W-4 has been significantly redesigned. However, employees aren’t required to fill out a new form unless they are starting a new job in 2020. For more information about the 2020 W-4, watch our webinar regarding the changes to the W-4, or read our blog 2020 IRS Form W-4 - What You Need to Know.

State Payroll Tax Updates for 2020

White Collar Exemptions
States which increased minimum salaries for White Collar exemptions include Alaska, California, Maine, New York, Washington, and Colorado. If you have workers in these states, be sure to double-check whether this changes the exemption status of any of your employees.

W-4 Updates
Delaware, Rhode Island, Vermont and South Carolina have state-specific forms available for state withholding.

Withholding Table Updates
Several states have updated their withholding tables: Connecticut, Massachusetts, Minnesota, Rhode Island, Arkansas, California, Illinois, Indiana (County Rates), Maine, Michigan, Missouri, North Carolina, Oregon, and South Carolina.

These are just a few of the state-specific tax updates for 2020. If you’re a Dynamics GP user, be sure you understand the year-end tax updates for your software solution:

2019 GP Year-End Updates

2020 tax updates are currently available to be installed in Dynamics GP. Here’s a link to summaries of Round 1, 2, and 3 tax updates, along with some other resources.

You can also check out the Dynamics GP and Year-End Update Upgrade Planning - Let's Get Started guide.

Helpful Resources

To learn more about payroll productivity tools that can transform your payroll process, learn how to Position Your Payroll Team for Success in 2020.

Check out our GP Payroll User Group
Want to know about more details of the 2020 tax changes and related Dynamics GP updates? Integrity Data’s Payroll User Group holds quarterly meetings to keep you informed and connected with other users in the Dynamics GP community. Click here to join!

Register for our upcoming webinar
To learn more about payroll functionality that can help your business, register for our webinar HR & Payroll Features to Make Your Life Easier, on Tuesday, May 19, 2020 at 1:30 p.m. CDT.

We’ll go back and review all the payroll-related features released in recent years and highlight some useful functionality that you have in Dynamics GP.

Information from Microsoft
If you’re looking for more tips and tricks for getting the best from your software, check out the Microsoft Dynamics GP Directory. This will help you find relevant documentation, videos, troubleshooting, related resources, and community sites for GP implementations. Many users also benefit from the Microsoft Dynamics GP blog, community, and support pages.

Contact Us

Want learn more about payroll, HR, tax, and ACA-compliance software for Microsoft Dynamics GP or Microsoft Dynamics 365 Business Central? Contact us today to learn more about Integrity Data’s tools for your ERP or payroll solution.

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