Contents of the Manage Advance Earned Income Credit Tables Screen
Use the fields and options to configure the Manage Advance Earned Income Credit screen.
Identification
Field | Description |
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Effective Date |
Enter, or click to select, the date on which the table becomes effective. The format for this field is MM/DD/YYYY. Pay Periods having a pay cycle end date equal to or greater than the Effective Date use the related table rates. |
Filing Status |
Use this drop-down list to select the filing status that applies to the table for which you are entering data:
Separate tables are maintained for each status. |
Advanced Earned Income Credit and Nonresident Alien Table
If you have installed the tables supplied by Deltek, you can click to select and view the information. If additions are needed, click . Load the table with the rates that apply to each Filing Status. This table is very similar to the Advance Earned Income Credit annual method table in your appropriate year Circular E IRS Publication.
Field | Description |
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For Taxable Income Over |
This column displays each level of wages before deducting withholding allowances. |
Base Credit/Tax |
This column displays the amount of base credit at each level. |
Plus % of Wages |
This column displays the rate for the excess of income over the wages in the first column. |
Less % of Wages |
This column is similar to Plus % of Wages, except this rate is used to reduce, instead of increase, the credit. |