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Level 1

Form 940

QuickBooks is showing me an alert that my Federal 940 is overdue.  I only owe $42 at this time.  My understanding is that I don't need to pay that until the end of the year or until my liability is greater than $500.  How do I get rid of this alert?

Solved
Best answer May 04, 2020

Best Answers
Highlighted
QuickBooks Team

Form 940

You're right, @FCN1.

 

The Federal 940 is annual tax payment. There's a chance the 940 is not scheduled to yearly, thus, you received the overdue alert. Let's ensure the 940 pay schedule is set to Annually. Let me guide you on how to check it in your QuickBooks Desktop (QBDT).

 

Here's how:

  1. Go to the Employees menu.
  2. Select Payroll Center.
  3. Go to the Pay Liabilities tab. 
  4. From the Other Activities list at the bottom, select the Change Payment Method to open the QuickBooks Payroll Setup.
  5. Select a scheduled tax payment Federal 940.
  6. Click Edit.
  7. Ensure the Payment (deposit) frequency field is set to Annually2.PNG
  8. Click Finish when done.

However, if the payment frequency is already set to annual, it could be the liabilities were paid but were not recorded in your QBDT. Here's an article you can read for additional reference. This link provides detailed information on why scheduled liabilities show overdue: Scheduled liabilities payroll show as overdue or in red.

 

I also got you this article for reference in case you need to remove a scheduled payroll liability: Remove or delete a scheduled payroll liability.

 

Know that I'm always here to help you in case you have other concerns or questions in the future. Keep safe and stay healthy!

View solution in original post

3 Comments 3
Highlighted
QuickBooks Team

Form 940

You're right, @FCN1.

 

The Federal 940 is annual tax payment. There's a chance the 940 is not scheduled to yearly, thus, you received the overdue alert. Let's ensure the 940 pay schedule is set to Annually. Let me guide you on how to check it in your QuickBooks Desktop (QBDT).

 

Here's how:

  1. Go to the Employees menu.
  2. Select Payroll Center.
  3. Go to the Pay Liabilities tab. 
  4. From the Other Activities list at the bottom, select the Change Payment Method to open the QuickBooks Payroll Setup.
  5. Select a scheduled tax payment Federal 940.
  6. Click Edit.
  7. Ensure the Payment (deposit) frequency field is set to Annually2.PNG
  8. Click Finish when done.

However, if the payment frequency is already set to annual, it could be the liabilities were paid but were not recorded in your QBDT. Here's an article you can read for additional reference. This link provides detailed information on why scheduled liabilities show overdue: Scheduled liabilities payroll show as overdue or in red.

 

I also got you this article for reference in case you need to remove a scheduled payroll liability: Remove or delete a scheduled payroll liability.

 

Know that I'm always here to help you in case you have other concerns or questions in the future. Keep safe and stay healthy!

View solution in original post

Highlighted
Level 1

Form 940

Thank you!  I couldn't figure out where to look to change the payment frequency.   It was set to quarterly.  Got it corrected, and all looks good.

 

 

Highlighted
Level 1

Form 940

Yes, it was set quarterly.  I got it changed and all looks good.  Thanks for your help.

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