Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
April 28, 2021
Question

My MN Federal Loan Interest Assessment is not calculated correctly. How can I resolve this?

  • April 28, 2021
  • 1 reply
  • 7 views
The MN Federal Loan Interest Assessment is supposed to be calculated by multiplying 4% by the UI Contribution amount (It says as much right on the report). Mine shows 4% of the Total Taxable Wages paid. I paid the MN UI tax, which they calculated correctly, but my QB is WAY off. I've chatted with the Payroll Core team about this, but they can't seem to understand. Any suggestions?

1 reply

LieraMarie_A
Level 8
April 28, 2021

Hi there, @heritagepondsafc.

 

Currently, we have an ongoing investigation (INV-58073) about the incorrect amount for Federal Loan Interest Assessment. Intuit is working diligently on the details to follow the State of Minnesota's reintroduced tax. They'll communicate more details once the research is complete.

 

I recommend contacting our Customer Care Support team so that you can be added to the list of affected users. This way, you'll receive email updates of the investigation's status and be notified once it's been resolved. I've included the steps to contact support below. 

 

Here's how:

  1. Click the Help icon in the upper right of the screen.
  2. Select Contact Us on the pop-up. 
  3. Enter your question in the How can we help? field and choose Let's talk
  4. Click Get a callback.
  5. Enter your contact information.
  6. Select Call me.
    Capture.JPG

For more details about our support availability, refer to this article: Contact Support

 

You can check this to ensure compliance with state payroll tax regulations: Minnesota.

 

I appreciate your patience while we're working on the MN Tax to be implemented. Let us know if you have any follow-ups or other questions. I'm always here to help. Wishing you a good one.