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KW28
Level 1

How to claim the FFCRA tax credits with ASSISTED PAYROLL??

I contacted support and they did not have an answer.  Has anyone done this?

 

Kerry

3 Comments 3
Nick_M
QuickBooks Team

How to claim the FFCRA tax credits with ASSISTED PAYROLL??

Hello, KW28. 

 

Thanks for stopping by the QuickBooks Community, I'm more than happy to show you how to claim your tax credits in your Assisted payroll account. Follow the steps below. 

 

Pull a Quick Report to understand the balances of the credit

  1. Go to your Chart of Accounts, then select the COVID-19 Expenses account.
  2. Select the Reports ▼ drop-down, then select QuickReport.
  3. Update the dates to reflect the paycheck date you are looking for. The amount should show all the payroll items you’ve set up and run payroll on. The amount in the Total column reflects the amount of the Credit you can enter on the Liability check.

Create a check to pay the payroll liabilities

  1. Go to the Employees menu, then select Payroll Center.
  2. Select the Pay Liabilities tab.
  3. In the Pay Taxes & Other Liabilities section, mark the Federal 941 and other liabilities, make sure the check amount and item list under Payroll Liabilities are accurate, and then select View/Pay.
  4. On the Payroll Liabilities window, select Create.
  5. Go to the Payroll Liabilities tab and enter the National Paid Leave Credit and the amount of the 941 tax liabilities you qualify for based on the Payroll Item Detail Report you created.  You’ll need to enter the amount of the credit as a negative amount. (If your tax liability is less than the credit amount, the credit can be used in subsequent payroll liability payments.)
  6. Select To be printed if you want to print the check. If you used a handwritten check, enter the check number or other reference in the NO. field. If you pay liabilities by Electronic Funds Transfer (EFT), clear the To Be Printed checkbox and type EFT in the No. field of the liability check.
  7. Select Save & Next or Save & Close.
  8. You’ll see your Payroll Liability Payment Summary and can then review the payments you scheduled, print a copy of the summary, and print checks.
  9. You can re-run the QuickReport to see the difference in the liabilities credit you are still able to claim if your credit was larger than your liability.

When these steps are complete, you're all set up to claim your tax credits. Also, refer to this link for further guidance on the tax credits. 

 

- How to claim my tax credits under the FFCRA

 

If you have anything else, feel free to post it below. 

 

Thank you and have a nice evening. 

 

BT76
Level 2

How to claim the FFCRA tax credits with ASSISTED PAYROLL??

Hello, 

I am a bit confused on the part where "In the Pay Taxes & Other Liabilities section, mark the Federal 941 and other liabilities, make sure the check amount and item list under Payroll Liabilities are accurate, and then select View/Pay." ...I e-pay these, do I go ahead and hit pay or where does this "Create" come up? If I just go to "Create Custom Payments" on the bottom of that screen, then it does show "Create" there under "Payroll Liabilities" screen  but does not show the "National Paid Leave Credit". What am I doing wrong?

 

Thanks BT76

JessT
QuickBooks Team

How to claim the FFCRA tax credits with ASSISTED PAYROLL??

Thank you for joining this thread, BT76.

 

I would recommend contacting our dedicated team for Assisted payroll, so they can guide you in creating a payment. They can also start a screen-sharing session to watch you do it. Click on this hyperlink: QuickBooks Desktop Assisted Payroll Support.

 

In connection with your concern, you can also check out our blogs about PPP Loans on The QuickBooks Blog page.

 

Let us know if there's anything you want to ask about payroll.

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