Tax responsibilty reporting Medicare Tax when total included in FICA

Percentage Tax Rate general ledger account code for FICA Tax and Medicare Tax set to the same account code causing Tax Responsibility reporting to show taxes owed for both FICA and Medicare under FICA.  Once over the FICA limit system will post Medicare Tax in appropriate Medicare Tax column.

RFMS does not recommend setting Percentage Tax Rate for FICA, Medicare and FUTA to the same general ledger account codes..

CAUTION: All rates shown here are for instruction purposes only. Contact your tax professional for proper rates.

Tax Responbility Reporting for FICA includes FICA and Medicare Tax due to setting Percentage Tax Rate using same general ledger account codes.

Tax Responsiblity Reporting over the FICA limit.