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randy4
Level 2
posted
‎March 25, 2021 08:53 AM
last updated ‎March 25, 2021 8:53 AM

941 Credits

A client ran payroll (core) with several ERC payroll items. 

The ERC generated an overpayment for the associated 941 deposit.

Payroll Tax Center for the month shows "Overpaid" as the Payment Status with a "Resolve overpayment" button showing under Actions.

 

The Resolve Overpayment only offers two options:

  • Apply to next quarter 
  • Request a refund

 

Why is the most obvious choice missing; "Apply the credit to the current quarter"

 

Requesting refunds or applying to future quarters is a function of the results of the quarterly 941, not individual tax deposits.

 

Under the current scenario, it appears Intuit is forcing the client to defer their overpayment indefinitely.

 

Calls to support yesterday 1) disconnect, 2) disconnect, and 3) "that the way it is"  I do not accept these answers!

 

How should this be handled?

 

 

 

 

 

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2 Comments 2
katherinejoyceO
QuickBooks Team
QuickBooks Team
‎March 25, 2021 11:25 AM

941 Credits

Hi there, @randy4. 

 

Thanks for sharing your thoughts about the 941 credits here in the Community. 

 

Currently, you can either apply the overpayment to the next quarter or request a refund only. 

 

I know it's convenient for you to instead apply the credit to the current quarter. For now, I'd suggest you reach out to IRS regarding your overpayment. 

 

I also appreciate you for sharing your call experience with our support yesterday. We hear you and this is already noted. 

 

Aside from our phone support, you can also connect with us through chat. You can click this link to initiate a chat session with our QuickBooks Online Payroll experts. 

 

Feel free to visit us again should you have additional concerns. I'm always around to listen and help. 

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randy4
Level 2
‎March 25, 2021 01:21 PM

941 Credits

The current Intuit options do not follow IRS instructions regarding the preparation of a 941.  

 

A 941 computes the quarterly liability, makes note of the deposits, and computes the tax shortage or overpayment.  If an overpayment, you have the option of requesting a refund or applying to the next quarter.  This is done at the end of the quarter, not following every tax deposit.

 

@katherinejoyceO please explain what I should say when I reach out to the IRS regarding the overpayment?  The IRS will tell me the way a 941 is supposed to be calculated, not the Intuit way.

 

Disappointing that this is the best that can be done.  The government is trying to help small businesses by providing credits.  Unfortunately, Intuit has decided the businesses must expend additional cash now and defer the benefit.

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