Payroll tax moratorium

Hello there, RSPosner,

The US Treasury is working on issuing guidance surrounding the implementation of the deferral and we will provide up to date information on how IRS wants this to be implemented.

You can check this for now: https://www.irs.gov/newsroom/guidance-issued-to-implement-presidential-memorandum-deferring-certain-....

Let me know if you have other questions.

Hello MaryLurieenM:

Guidance is not law, which means employers have discretion to act in the best interest of employees and the company.  Again I wish for QB to allow one to opt-out of any  moratorium for which an employee has to pay back the money.

Regards,

ron

Agreed. I'm hoping QB Payroll allows for this to be an optional change.

All of my hourly employees would qualify for the deferral. However, it is not a credit and thus tracking it and then getting the money back in January is a large burden to put on the payroll staff.

Hello Admin, I received the email on August 31st advising that Intuit was working on getting guidance from the IRS, however, we have heard nothing back since then and next week I will be running my 3rd client payroll without offering the deferral to the employees.  I understand that many are requesting a way to opt out of it, which I would assume means just not make any changes to the current process, but what I need to know, is it up the employer to decide or the employee?  If it is the employer's decision, all my clients would not want to make this change, but if it is up to the employee, then we need to advise them and offer it.  Do I need to present it to the employees and if they say yes, how do I keep track of what they owe back in QB?  The latter question being the one I am personally more concerned about given I suspect that some employees will just look for the break now and worry about the payback in January.  In order to track what is owed, something has to change in the software, correct?  When will we hear back from Intuit with the guidance on this matter given the presidential memorandum does not state if it optional and if so, whose option?  If Intuit could just stay in touch with us and let us know the progress and specific guidance they are trying to secure from the IRS it would help the community to know whether they need to be taking action while we wait.  Thank you, Diane

I appreciate the complete details you've shared, @diane.

We understand the impact of any delay in the implementation of the August 8th Presidential Executive Order to allow deferral of employee's Social Security taxes. Currently, our Payroll Compliance teams are working closely with the IRS still to determine the accurate process and specifics of this tax deferral.

The deferral of the employment taxes is not mandatory and employers can decide whether they want to opt-in. Rest assured, once updates are available, you'd receive an email notification about it. Also, it will be applied to your QuickBooks account once you download your latest payroll tax tables. In the meantime, you can run payroll the way you do it in QuickBooks. You can read through these articles for more detailed instructions: 

• Track your deferral payments for Social Security tax payments
• Pay employees under the Family First Coronavirus Response Act
• How the Coronavirus Aid, Relief, and Economic Security (CARES) Act affects your payroll.

Keep in touch if there's anything else I can do to help you succeed with QuickBooks. I've got your back. Have a great day and stay safe.

THIS IS, AS ALWAYS, USELESS. That entire post was the Intuit version of the "our thoughts and prayers are with you."It is impossible to determine ( I assume) what the updates are before they are installed. There is NO basis for belief that Intuit  will be set this up with an opt out, etc. , etc.,  Intuit will cram some garbage down our throats, such as the idiotic password. Intuit is a disgrace. 

It is now 9/29/2020 and still nothing from Intuit.  Other companies have already taken care of this with their payroll systems.  This should have been done by now!

When will we have the answers we need from Intuit?!?!?!?! My employees are asking me daily what is going on!  And even though you, highly paid employees of Intuit, might not want to take advantage of this program, my employees do!!!!! Will they get the money returned to them for all these missed weeks of taking advantage of the program because Intuit is too lazy to enforce any rules?? Like previous posts said, I have spoken to other payroll companies who have enforced the program since the first week!  What are you guys doing over there?!?!?!?!