Last updated on AUGUST 23, 2017
Applies to:Oracle HRMS (US) - Version 12.1.3 and later
Information in this document applies to any platform.
On 2/15/2017, Vertex released the "Vertex Payroll Tax Q Series Partner Document Version 4.2.2" Section 1.1 of this document discusses how to handle Medicare taxation and Employee W-2 reporting in the event of an company acquisition.
Section 1.2 then goes on to state, "However, predecessor wages and taxes should not be included in an employee's Year-to-Date (YTD) values since the predecessor company will be issuing W-2's for the wages earned / taxes paid at the predecessor company. Therefore, separate fields are needed in which clients can pass predecessor wages and taxes."
Section 1.3 then describes the new fields that Vertex has created to allow for the accumulation of Medicare wages from the predecessor company.
New US Legislation Changes
Sign In with your My Oracle Support account
Don't have a My Oracle Support account? Click to get started
My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms