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    Assisted Payroll Service: FAQs for 2014 FUTA Credit Reduction States

    Article ID: 1000918

    Overview

    This article explains the Federal Unemployment Tax Act (FUTA) credit reduction and how it will affect FUTA taxes, Form 940, and Schedule A for 2014.

    Expected Outcome

    You will have information about the Federal Unemployment Tax Act (FUTA) credit reduction for your state.

    Assumptions

    You have an active payroll subscription and an up-to-date Assisted payroll version of QuickBooks.

    Details

    In mid January 2015, an email will be sent to customers who owe additional FUTA taxes due to the credit reduction. We will notify you of the exact dollar amount due and when your payroll account will be debited.

    How Assisted Payroll collects the tax money and files the returns

    Assisted Payroll will debit employer bank accounts for this tax and a liability check will be posted to your QuickBooks register the next time you connect to Intuit Payroll (i.e. when you send your next payroll).

    We will prepare and file your Form 940 and Schedule A and pay the taxes due on your behalf. Electronic copies of these filed forms will be available in February 2015, via a secured link within QuickBooks to the Payroll Tax Center.

    If you cancelled your Assisted Payroll service last year and asked Intuit to file your tax forms, but received an Action Required email that you owe an additional amount for FUTA Credit Reduction for 2014, you must submit the additional payment provided in the email to the IRS yourself.

    In part, here is the action you will need to take:

    As you requested when you canceled your Assisted Payroll service last year, we have prepared and will file your annual tax returns for 2014. However, you owe an additional amount for Federal Unemployment Tax due to the FUTA Credit Reduction for 2014. Because you no longer have an active payroll account with Intuit Assisted Payroll Services, you will need to make a payment directly to the IRS by January 30, 2015.

    You can make your payment to the IRS directly using EFTPS, or by mail (only if your liability is less than $500.00 for the year). See the following for payment instructions:

    2 comments

    Sunny2/6/2013

    I have 2010 Premier accountant version now and need to update to 2013, which version should I update to in order to keep assisted payroll?

    Reply

    Jo Ann2/8/2013

    26

    Hi Sunny,

    I am an Intuit employee and saw your comment.

    I found another article that answers this question. The information in the article "QuickBooks 2010 Discontinuation FAQ" http://payroll.intuit.com/support/kb/2000308.html should help you.

    I hope this helps you. Thank you for posting a comment.

    Comments can not be added at this time.

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