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The recently signed CARES Act lets businesses delay employer payroll tax deposits. How do we take advantage of that? Currently, these are auto-paid by QBO Online Payroll.

 
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QuickBooks Team

The recently signed CARES Act lets businesses delay employer payroll tax deposits. How do we take advantage of that? Currently, these are auto-paid by QBO Online Payroll.

Hi lindseyhandley.

 

At this time, our team is working hard to get the most up-to-date information for you and your business regarding COVID-19. QuickBooks will soon be updating the payroll products as well as the methods for you to track things such as employer payroll tax. Below I have a few articles that will help you in the meantime. 

 

1.Families First Coronavirus Response Act. 

 

2. QuickBooks business resource and tax info. 

 

I also recommend reaching out to our Full Service Product support team. You can do this by following these steps:

 

1. Click the "Help" icon on the right hand side

2. Click "Contact Us"

3. Type your issue in the text box

 

This will connect you with a live agent who is an expert in your area of question. 

 

I appreciate your patience in these difficult times, If there's anything else I can do for you. Let me know. 

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Community Champion

The recently signed CARES Act lets businesses delay employer payroll tax deposits. How do we take advantage of that? Currently, these are auto-paid by QBO Online Payroll.

You do not "delay" any tax deposits. They are due when due but you can take eligible credits against what is due, possibly not having to submit anything. By not submitting on your own (having it automatic by QB) you are shooting yourself in the foot.

Highlighted
Level 1

The recently signed CARES Act lets businesses delay employer payroll tax deposits. How do we take advantage of that? Currently, these are auto-paid by QBO Online Payroll.

Thanks for giving a real response, John! I'll start looking into how to get those credits... Let me know if you have any good resources!

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Community Champion

The recently signed CARES Act lets businesses delay employer payroll tax deposits. How do we take advantage of that? Currently, these are auto-paid by QBO Online Payroll.

If you followed the link to the QB resources and the link for online payroll (desktop still in the works) you would see that, once you set up and enter time under any of the 3 types eligible for tax credit, that the tax credit will be automatically calculated AND applied, thus reducing the tax due and paid either by you or from your account by quickbooks.

 

There are optional programs besides the mandatory paid leave which involve credits for retention but , twofold, the calculation and application of retention credits starts with the Q2 941 form , and there is a form to apply for an advance on the credit. Because this credit is calculated quarter by quarter you may have to continue to pay before being able to receive the credit

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