======================================================================================= RELOCATION MANAGEMENT SYSTEM VERSION 4.6 & MOVETRACK 4.1 Tax Update November 4, 2008 ======================================================================================= --------------------------------------------------------------------------------------- *** Please note that the tax update must be executed from a workstation that has *** *** RMS or Movetrack installed. *** --------------------------------------------------------------------------------------- TaxUpdate110408.exe is a self-extracting ZIP file that contains the necessary files to update the tax tables for both RMS and MoveTrack databases. 1) Click the link TaxUpdate110408.exe. You will be prompted to open or save the file. 2) Save the file to a folder on your system. 3) Browse to the location where the file was saved and double click the file to extract the contents. You will be prompted where you wish to unzip the contents of the file. The default location is "C:\IneoTaxUpdate". If desired, choose another location for the extracted files. 4) Click Unzip to extract the setup files. 5) Browse to the extracted folder location and double click the IneoTaxUpdate.exe file to run the program. If utilizing the RMS multiclient tool, users can select a specific database or all databases to be update. 6)Click the 'Update Now' button to update your database(s). 7) Verify your update was successful by checking the tax tables date under the Help/About menu in RMS and Accounting / Federal/State Rate Information in MoveTrack. 8) Upon completion of the update you can remove the downloaded files from your system. If you have any questions or problems, please do not hesitate to contact Ineo Relocation Technologies at (303) 308-1801. November 4, 2008 Changes: * State rate updates * Exemption and deduction changes * Please refer to "2008 Year-End Tax Update Info.pdf" for detailed information regarding the changes (part of self-extractor). April 28, 2008 Changes: * Corrected Idaho state description. Was showing up as "daho" for 2008. April 15, 2008 Tax Changes: * State rate updates * Exemption and deduction changes * Please refer to "Mid-Year 2008 Tax Changes.pdf" and "Mid Year 2008 Tax Update Info.pdf" (part of self-extractor) for detailed information regarding the changes. January 1, 2008 Tax Changes: * FICA limit increased to $102,000 * Federal Tax Rate Schedules updated * Exemption Amount increased * Phase Out of Exemption thresholds changed * Standard Deduction Amounts increased * Phase Out of Itemized deductions changed November 30, 2007 Tax Changes: * Federal and State logic changes * State rate updates * Exemption and deduction changes * Please refer to "2007 Year-End Tax Update Info.pdf" for detailed information regarding the changes (part of self-extractor). September 19, 2007 Tax Changes: * State rate updates * Exemption and deduction changes * Please refer to "Mid-Year 2007 Tax Changes.pdf" (part of self-extractor) for detailed information regarding the changes. January 03, 2007 Tax Changes: * FICA limit increased to $97,500 * Federal Tax Rate Schedules updated * Exemption Amount increased * Phase Out of Exemption thresholds changed * Standard Deduction Amounts increased * Phase Out of Itemized deductions changed * Announced State Rate changes in MN and ID December 12, 2006 Tax Changes: * California married filing joint, tax table correction for $31,296 - $49,552. November 20, 2006 Tax Changes: * Nebraska married filing joint, tax table correction November 12, 2006 Tax Changes: * State rate updates * Federal and State logic changes * Exemption and deduction changes * Please refer to "2006 Year-End Tax Update Info.pdf" (part of self-extractor) for detailed information regarding the changes. August 28, 2006 Tax Changes: * State rate updates * Federal and State logic changes * Exemption and deduction changes * Please refer to "Mid-Year 2006 Tax Changes.pdf" and "Mid Year 2006 Tax Update Info.pdf" (part of self-extractor) for detailed information regarding the changes. January 10, 2006 Tax Changes: * FICA limit increased to $94,200 * Federal Tax Rate Schedules updated * Exemption Amount increased * Phase Out of Exemption thresholds changed * Standard Deduction Amounts increased * Phase Out of Itemized deductions changed * 2006 State Rates for MoveTrack * 3491 local rates provided (optional in installation) November 21, 2005 (MoveTrack only): * California - Correction to married bracket. November 4, 2005 (RMS only): * California - Correction to married bracket. October 31, 2005 Tax Changes: * Arkansas - repealed income tax surcharge * North Dakota - eliminated Federal Tax Deduction * Montana - changes to rate table * Maine - changes to rate table * Kansas - changes to rate table * West Virginia - changes to rate table May 1, 2005 Tax Changes: * State Exemptions, Deductions and Credits updated as applicable * State Income Tax Rates and Brackets updated as applicable * AL, HI, NJ, PA, RI State Supplemental Rates updated * MoveTrack withholding tables updated as applicable * CA and NJ SUI/SDI rates (which are internal calculations in RMS) were updated as follows: NOTE: CA and NJ SUI/SDI rates ARE NOT internally calculated in MoveTrack and must be set up as local rates in order to be calculated. CA SDI = 1.08% of $79,418 NJ SUI = 0.425% of $24,900 NJ SDI = 0.5% of $24,900 * The following SUI/SDI rates changed and need to be set up as locals both in RMS and MoveTrack as applicable to your specific needs. AK SUI = 5% of $27,900 HI SDI = 0.5% of $39,126.88 NY SDI = 0.5% of $8,500 PA SUI = 0.09% of $8,000 RI SDI = 1.4% of $49,000 January 18, 2005 Tax Changes: * Federal Tax Rate Schedules updated * Exemption Amount increased * Phase Out of Exemption thresholds changed * Standard Deduction Amounts increased * Phase Out of Itemized deductions changed * FICA limit increased to $90,000 October 15, 2004 Tax Changes: * CA SDI Correction October 15, 2004 Tax Changes: * AZ, CA, ME, MT, ND, NJ, OH, OR, VT, WI State Tax Rate Changes * PR Tax Rates Updated * VA, VT Supplemental Brackets removed July 1, 2004 Tax Changes:July 1, 2004 Tax Changes: * ID Withholding Rates (released 6/04) * MI Supplemental Rate (effective 7/1/04) * Canadian Provinces and US Teritories add to MoveTrack February 9, 2004 Tax Changes: * NM Supplemental Rate February 6, 2004 Tax Changes: * CA, CT,MI, NJ, NY, OR, VT State Tax Rate Changes January 1, 2004 Tax Changes: * Federal Tax Rate Changes * State Tax Rate Changes October 25, 2003 Tax Changes: * State Tax Rate Changes July 15, 2003 Tax Changes: * Changes to state supplemental rates due to JGTRRA * Expanded NY Tax Brackets June 2, 2003 Tax Changes: * Jobs and Growth Tax Relief Reconciliation Act of 2003 * Federal Supplemental Rate lowered * Federal Tax Brackets Changed * Child Tax Credit increased May 1, 2003 Tax Changes: * State Supplemental Rate * State Marginal Withholding Rates * State Tax Rates * State Exemptions, Credits, Deductions, and Phase-outs February 10, 2003 Tax Changes: * Standard Deduction Amounts increased * Exemption Amount increased * Phase Out of Exemption thresholds changed * Federal Tax Rate Schedules updated * Phase Out of Itemized deductions changed * Child Tax Credit earned income floor increased * FICA limit increased to $87000.00