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tax cut
Level 2

President's payroll tax cut

I have called Quickbooks multiple times and talked to different people. They tell me that they have contacted IRS and their 'engineering department' is working on it. One of them claimed IRS didnt clarify the guidelines and I said I can see it published online and I can send it to you. Another one tried to convince me that this is only optional and not good anyhow. I said I want this option. This is all very frustrating. Our company had to pay 13K tax that we may not had to. In this COVID economy this is terrible. I am not sure why they are not following Presidents plan. Is this political? Very disappointing.

4 Comments 4
JamesDuanT
Moderator

President's payroll tax cut

This is not what we want you to experience, tax cut.

 

Our development team are still working on a function to ensure that the payroll tax cut would be applied in QuickBooks Desktop. I'd recommend contacting our phone support for further details: Contact QuickBooks Desktop support.

 

Meanwhile, you can browse this link to know more about tracking deferrals in QuickBooks Desktop: Track your Deferral Payments for Social Security Tax Payments.

 

Aside from that, you can also consult your accountant on how we can get through this. They might have a few options to record the details. They know what's best for you and your books.

 

We appreciate your patience as we work on this.

BigRedConsulting
Community Champion

President's payroll tax cut

RE: I said I want this option. This is all very frustrating.

 

Intuit is not going to change QuickBooks for this until the IRS implements it.  They need to publishe detailed rules, updated tax forms including the 941 and W2, and so on. They have not done that yet, nor have they stated when they will.

 

RE: Our company had to pay 13K tax that we may not had to.

 

Based on review of the draft 941 designed to handle this, and what I've read about it, the change applies only to employee paid SS and perhaps Medicare.  The company portion is still due as normal, and if you deduct the tax from paychecks, you do still need to pay that as well. So, you're likely not out any money at all.

tax cut
Level 2

President's payroll tax cut

Who are you? Your answers dont make any sense. I hope you are not running a business helping your clients with tax credit 

tax cut
Level 2

President's payroll tax cut

This is not what we want you to experience, tax cut.

 

Your sentence is exactly what I and million s of people are worried about. Please stop political games and help your clients with their payroll tax cut that president authorized. If you have to you need to write to the secretary of treasury or the President himself to help your clients.

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