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MRL
Experienced Member

How do I correct a tax overpayment so that I can submit my NJ927 tax form?

I have made a tax liability adjustment, but what is the next step?

6 Comments
QuickBooks Team

Re: How do I correct a tax overpayment so that I can submit my NJ927 tax form?

Thank you for joining us here in the Community, MRL.

I'd be happy to help you in correcting your tax forms so you'll be able to submit your NJ927 tax form in QuickBooks Desktop.

 

In QuickBooks Desktop you can track your outstanding payroll liabilities in the Payroll Liabilities account, based on the payroll items created on each paycheck. You can run the Payroll Liabilities Balance report to check the adjustment you made was accurate.

 

Here's how:

  1. Choose Reports.
  2. Select Employees & Payroll.
  3. Choose Payroll Liability Balances.
  4. Set the date filter.

Once you're done verifying and the amount is accurate, you may reach out to your tax agency on how you can get the refund for the overpayment. Also, you may find this article helpful: https://community.intuit.com/articles/1762888-determining-the-source-of-payroll-liability-report-bal....

 

If you'd like to go through this over the phone, you can call our dedicated team who will be happy to assist you. Our contact details can be found here along with our opening hours:

  1. Go to: https://help.quickbooks.intuit.com/en_US/contact.
  2. Choose your QuickBooks Product.
  3. Select your QuickBooks version.
  4. On the Contact Us page, click a topic.
  5. Click on the Get Phone Number button to see the support number.

Feel free to reach out to us if you have additional questions about correcting your tax forms in QuickBooks Desktop. I'll be around to help.

MRL
Experienced Member

Re: How do I correct a tax overpayment so that I can submit my NJ927 tax form?

Thanks for responding.  Let me explain further. When I went to create my NJ927 form, the error told me that I had a negative balance and I could not submit my form until I got rid of this credit.  So I went to “payroll liabilities” and entered an adjustment in the amount of the negative balance.  I must need to go further because when I went to create the NJ927 again, it still showed that I had a negative balance.  Now what do I do?

Highlighted
MRL
Experienced Member

Re: How do I correct a tax overpayment so that I can submit my NJ927 tax form?

Thanks for responding.  Let me explain further. When I went to create my NJ927 form, the error told me that I had a negative balance and I could not submit my form until I got rid of this credit.  So I went to “payroll liabilities” and entered an adjustment in the amount of the negative balance.  I must need to go further because when I went to create the NJ927 again, it still showed that I had a negative balance.  Now what do I do?

QuickBooks Team

Re: How do I correct a tax overpayment so that I can submit my NJ927 tax form?

Thanks for your prompt response and for the explaining us further about your concern, MRL.

 

I can help you correct the negative balance showing on your NJ927 form in QuickBooks Desktop.

 

First, let's open the liability check after you enter the liability adjustment. In the Payroll Liabilities tab, make sure the amounts shown per payroll item matches the amount of your Payroll Summary report.

 

To locate liability check, you can follow the steps below:

  1. From the Employees menu, click Employee Center.
  2. Choose the Transactions tab.
  3. Click Liability Checks.
  4. Locate the check and select the Payroll Liabilities tab. Take note of the payroll items and the amount to make sure it matches your Payroll Summary report.
  5. In the Expenses tab create an asset account (NJ Over-payment) Amount = the over payment. 

Here's how to run the Payroll Summary Report in QuickBooks:

  1. Go to Reports.
  2. Click Employees & Payroll.
  3. Choose Payroll Summary.

I've also attached some screenshots below so you can have a better view.

 

 

 

Entering the over payment amount from your liability check's Expense tab will correct the negative balance of your NJ927 form.

 

This should how your NJ927 form would look like after applying the over payment.

 

This will get you on the right track. You can always count me in for any questions you may have while working with your payroll forms in QuickBooks. Have a great day ahead.

MRL
Experienced Member

Re: How do I correct a tax overpayment so that I can submit my NJ927 tax form?

I followed your instructions and tried to add the expense amount on the original liability check by adding the expense line, but Quickbooks will not allow me to edit the liability check.

 

QuickBooks Team

Re: How do I correct a tax overpayment so that I can submit my NJ927 tax form?

Hello, MRL.

 

Instead of adjusting the liability check, we can record a payroll liability refund check. This will correct your negative payroll liability balance due to overpayment.

 

For the detailed instructions on how to this refund check, please refer to this article: https://quickbooks.intuit.com/community/Employees-and-payroll-taxes/Record-a-payroll-liability-refun....

 

Let me know on the comments if you have other concerns about QuickBooks.