cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 2

Will this be calculated automatically? "Employer Social Security Tax will be reduced by the amount of Paid Sick and Family Medical Leave costs covered by employers."

 
4 Comments
Highlighted
Moderator

Will this be calculated automatically? "Employer Social Security Tax will be reduced by the amount of Paid Sick and Family Medical Leave costs covered by employers."

Thanks for reaching out to the Community, stb209.

 

QuickBooks payroll updates rely on IRS requirements. To ensure the changes in the calculation, I recommend checking it with the IRS. If verified, then you can manually adjust it. 

 

Additionally, I want you to get the most out of QuickBooks for your business. You can check some articles that are designed to help you get acclimated with the software. They can be accessed at the following link: QuickBooks Tutorials.

 

As always, you can get back to me if you have any additional questions. I'm here for you. Have a great day!

Highlighted
Level 2

Will this be calculated automatically? "Employer Social Security Tax will be reduced by the amount of Paid Sick and Family Medical Leave costs covered by employers."

I don't understand this response.  Will the new federal provisions for reimbursing employers via waived social security  payments in exchange for paying sick leave be automatically incorporated when we run payroll, effective April 2, 2020?  In other words, will all sick leave that my employees claim during this period be used to automatically offset our social security payments?  Or will full-service payroll run as usual, and then business owners will have to apply to the federal government for this credit later?  I'm not sure how the IRS is administering it and wouldn't know who to contact there - I want to know how Intuit is applying this new law.

Highlighted
Level 2

Will this be calculated automatically? "Employer Social Security Tax will be reduced by the amount of Paid Sick and Family Medical Leave costs covered by employers."

The federal government just issued this new law, which was passed on to me via an Intuit newsletter.  My question stems from that email.  It's my understanding that this new law is an IRS requirement.  Will Intuit be updating QuickBooks payroll to coincide with this new law?  Or will payroll be processed as usual, and businessowners will need to apply for this credit later?

 

In other words, if any of my employees use any sick leave during this period (beginning 4/2/2020), will QuickBooks payroll automatically apply that as a credit to my social security payments?  As I understand it, that's what the law prescribes.  Will Intuit be enacting it automatically, or do I have to do it retroactively and manually?

Highlighted
QuickBooks Team

Will this be calculated automatically? "Employer Social Security Tax will be reduced by the amount of Paid Sick and Family Medical Leave costs covered by employers."

Hi there, stb209.

 

This new update is not yet integrated in QuickBooks Online Payroll. Our engineers and compliance team are still working on the details from the IRS. We'll let you know as soon as we get updates from them.

 

If you're using the Full Service Payroll, please contact our Payroll Support team so they can give you additional options about this this. Here's how:

 

  1. Go to the Help icon, then click the Contact Us button. 
  2. Let them know that you have additional questions about the new regarding the Paid Sick and Family Medical Leave.
  3. Click Let's talk
  4. Select Start messaging or Get a callback

Visit us again in the Community if you have other questions, I'm here night and day.

Need to get in touch?

Contact us