Did you ever get an answer to this? It is now Sept. 1st and I don't see any QB updates to change the Payroll tax! I had to process payroll as is! Would be nice to know what's happening!!

Out company and employees also want to OPT-OUT of this tax deferment. I hope intuit makes that an available option.

There are still no clear answers yet...The only thing I'm worried about is if they do end up forgiving it - then what about all the people that opted out? If COVID gets out of control once flu season hits and businesses close or people are laid off how are they going to collect double the SS starting January 1? This entire thing is a terrible idea. 

I am not sure why QB is so confused.  President Obama did this same payroll tax cut.    Yes I used QB, so why all the confusion with an update?

Will there be an update in QuickBooks Desktop as well?

Yes, there'll be an update in QuickBooks Desktop (QBDT) as well, @cmoorer. I'm here to provide further details about this.

We always make sure that the QBDT program is compliant with the government agency's policies. With this, our Payroll Compliance team is currently working with the IRS in setting up the payroll tax cut policy accordingly.

Rest assured that once the update is ready, we'll notify you either through this thread or via email. Then, we’ll include the said policy to the latest payroll release.

To keep up with the latest payroll news, kindly check out this article: Latest payroll news and updates. It provides information about what's included in the most recent payroll update, tax tables, and other related articles to name a few.

I'm also adding this article in case you want to know about tracking deferrals for your share of Social Security tax payments: Track your deferral payments for Social Security tax payments. It provides details about how the CARES act tax deferral works and setting up your account for the said process accordingly.

Please let me know if you have other concerns. I'm just around to help. Take care always.

Nope, the Obama tax holiday was across the board, this tax deferral is not applicable to all employees. Additionally, because it is a deferral and not a proper holiday and is being interpreted as optional for employers, it makes implementation different and difficult. 

Has this been updated yet? Our firm wants to defer the employee's social security.

Thank you for joining the thread, @SL1899.

We understand the urgency to get the option available in our program at the earliest time for employees who want this option. Rest assured, our engineers are working on implementing this as soon as possible. This is to ensure our customers are up-to-date with the IRS guidelines.

Also, I want to let you know that the deferral of the employee's taxes is not mandatory, and employers can decide whether they want to opt-in. The potential to defer the withholding only applies to employees whose gross pay for the pay period is less than $4,000 for a bi-weekly pay period (or equivalent for other payroll periods, e.g. $2,000 for weekly payroll). 

I also suggest checking our article that talks about the latest payroll news to keep you updated. Here's the link: Latest payroll news and updates.

I'm always here to listen if you have other concerns regarding payroll. You're welcome to post again or leave a reply below. Have a great day ahead.

Our company wants to opt out of this also.  Our understanding is this is decided by the employer.  Will we get a notification prior any changes?

I did our payroll this morning, SS & medicare withheld as always.  It didn't ask, so I assume there has been no update. 

Neither I nor any employee wants to do this, so I guess if there is no opt-out, I will just avoid updating QB payroll until this crazy idea is over.

It's passed. Where's the update?

We are aware of the new payroll tax cut announced by President Trump, chrissinger.

Our Product Team is still working to implement the employee tax deferral order. And, we don't have the estimated time on when this will be available in QuickBooks.

As soon as this feature is available, we will notify this thread. You can also visit our QuickBooks blog to keep you in the loop with the latest features and improvements in the system.

Stay tuned for updates. Let me know if there's anything else you need. I'm always glad to help.

We have Quickbooks on the desktop - how do I implement the payroll tax deferral? 

Allow me to share some info about implementing the payroll tax deferral in QuickBooks, @gmposey.

As of the moment, Intuit is waiting for the IRS to gain insight into how to implement this order. As soon as this feature is available, a notification will be sent to your email associated with your account.

You can also check out this article to learn more if the feature is already available in the system: Track deferral payments for Social Security tax. 

Here's a great source that you can also visit to know the latest updates and enhancements of the software: QuickBooks Blog.

Let me know if there's anything else you need. I'll be here every step of the way. Keep safe. 

I hope there is a company wide option to opt out of the deferral as well. And that it won't just be added to our update.

I have a small business and use QBO.  I have one employee other than myself.  I've talked to my employee about the payroll tax cut and we both agree we'd like to opt out.  Since we will have to pay this back in January, neither of us wants a huge tax bill right after the holidays.  I can't find any information about opting out in QBO.  What do I look for?

Hi there, HawkArt.

As previously shared in the earlier responses, we're still waiting for the final details and implementing guidelines about the tax deferrals. We've already sent an email to all payroll customers about this last August 31. We will be sending another one as soon as changes are already implemented in QuickBooks Online. 

You can also open link to the QuickBooks Blog that is shared above on how to check the latest QBO updates. 

As always, please don't hesitate to reach out to us again if you need anything else. 

Following as well....doing payroll tomorrow....I don't understand how you will "catch up"??

Obama never did a tax cut like this.  He never cut employee social security.  And never, have I seen a deferment of any taxes by any president.

PLEASE let them know that there are MANY of us who wish to opt out!! 

Thanks!

We did not have to pay back the deferral that we did last time. This time, we do.

This is what I want to know as well.  These answers are not addressing that question. I don't want my payroll updated if I don't have the ability to opt out of the deferral!

Thanks for your time checking this with us, @ponymare6732,

We understand your decision to not participate with the Presidential Executive Order allowing the deferral of employee's Social Security taxes. Although the IRS Notice does not specifically state whether the employee payroll tax deferral is mandatory, rest assured, our developers are directly working with the agency to ensure we comply to the guidelines.

I found this link shared by one of our contributors (AllStars), which you can read to learn more about this order: https://www.bdo.com/insights/tax/compensation-benefits/irs-addresses-the-president%E2%80%99s-executi...

At the moment, we're unable to provide the turn around time or confirmation whether or not the option to opt out will be available any time soon. We will be posting in-product updates once the update is finalized, so you're updated with the incoming changes.

In the meantime, you can do your regular payroll processing and we'll take care of any adjustments needed once this is available in our software.

We appreciate your patience while this is being looked into. Please stay tuned to our updates and visit this thread for additional information. I'll be right here if you need anything. Have a good one!