With the new tax bill being signed into law, there will obviously be changes made to the way taxes are withheld and filed. We, at ChurchTrac, are doing our best to provide you with a payroll module that is up to date and leaves you the least room for mistakes. This is what we want you to know:
The changes will ONLY affect Non-Clergy employees.
Federal Withholding numbers will stay the same as 2017, but they will be changing once the IRS makes a decision in early 2018. Once that happens, we will update our tables to reflect the new withholding numbers for employees.
There should be no negative impacts on the past checks issued once the changes have been made. Any amount that was taken that would be in excess will be issued as a refund on the employees 2018 tax return. The same would apply negatively for not enough being withheld during that timeframe.
We will be opening up the ability to generate 1099’s and W-2’s later this week as well.
As always, we are here to help you out in any way possible to help your ministry move forward in progressing the Gospel. Please do not hesitate to reach out if you have any questions at all.
Happy and Blessed New Year to you all!!!