Thanks for checking this with us, earlyowego.
We are aware of the new payroll tax cut announced by President Trump. The moment it is passed, QuickBooks will make sure to catch up and apply this change on our future updates.
Once the update is ready, we will notify you either through this thread, via email. Another way to be updated with QuickBooks latest news is through our QuickBooks blog.
Stay tuned for updates. If you have other questions, just let me know. I'd be happy to help. Have a nice day ahead.
I thought it "passed" when he signed the Executive Order on August 8th. The matter of whether it is permanent or not still needs to be agreed on but I think the EO made it official through the end of the year. How long does it usually take to update these things once they are in effect, which at minimum appears to be Sept1st - Dec 31st 2020? https://www.whitehouse.gov/presidential-actions/memorandum-deferring-payroll-tax-obligations-light-o...
Thanks for coming back to this thread, ML0017.
Currently, we're unable to provide a specific timeframe when it will be available in QuickBooks. Rest assured, we'll apply the updates as soon as the Deferring Payroll Tax Obligations Policy takes effect.
In the meantime, I encourage visiting our blog from time to time to stay current with all QuickBooks news and updates.
If you need more help in completing your other tasks in the program, you can check our articles here. Just make sure that the topic is set as QuickBooks Online.
I'll be right here to continue helping if you have any other concerns or follow-up questions. Assistance is just a post away.
Thanks for joining us here, @mrpyle1.
Since the Deferring Payroll Tax Obligations Policy is not yet released on our program, I recommend checking the latest updates at irs.gov. They're the ones who can provide information about the tax cut exemption.
Feel free to visit our QuickBooks blog to get all the latest news and updates.
Also, you can always swing by on our Help articles page for reference. There, you can read some of the helpful articles that will guide you in your future tasks related to payroll.
Let us know if you have other QuickBooks questions. We're always here to assist you. Take care always.
Thanks for joining the Community, because the Employee social security rate is federally set at 6.2% there is no way to alter it. For additional information on how to add, edit or inactivate am employee, you can refer to the this article.
If you have any other questions or concerns, feel free to post here anytime. Thank you and have a happy Monday.
Thanks for joining this thread, @cboudreaux.
I can see the importance of implementing the new payroll tax cut in QuickBooks Online (QBO) as it helps you prepare for your next payroll. However, we currently don't have a specific timeline as to when this will be available in the program. Rest assured that the system will automatically catch up on the taxes once this policy takes effect.
For the time being, I recommend visiting our QBO Blog to learn more about the latest news and product enhancements.
When you process payroll on 08/31, I'd suggest visiting this resource hub to get help on its common topics.
Just click the Reply button below if you need anything else. The Community and I will help you.
Will there be an option to have employees continue the withholding? Our employees do not wish to proceed with the executive order that is to go into effect September 1st for the FICA cut.
Our engineers are working on getting the new payroll tax cut added in the coming payroll update. Thus, viewing an option to proceed or not is unavailable.
Rest assured, QuickBooks will automatically catch up on your taxes once it's ready. We'll also update this thread to let you know. I'm attaching QuickBooks blog to know the latest news about QuickBooks payroll.
Feel welcome to message us anytime if you need help with anything else. You can always count on us here in the Community. Thanks for swinging by and I wish you have a nice day ahead.
Our company also wants to Opt Out of the Social Security deferral. I hope they are going to give us a Company Wide option before just implementing the deferral automatically!
I can see the importance of implementing the new Payroll Tax Deferment program in your QuickBooks Online Payroll account. As of this time, our Payroll Compliance teams are working closely with the IRS still to determine the accurate process and specifics of this tax deferral. Also, the US Treasury is working on issuing guidance surrounding the implementation of the deferral and we will continue to keep our customers up to date with the latest information.
Once updates are available, you'd receive an email notification about it. Also, it will be applied directly to your account. In the meantime, you can read through this article for more detailed instructions on how to set up your payroll to track deferrals of the employer share of Social Security tax payments: Stop or defer payroll tax payments.
The Community always has your back and would also be happy to help with your questions as well. I’m just a few clicks away should you need anything.