Assisted Payroll Service: FAQs for 2012 FUTA Credit Reduction States
PrintOverview
This article explains how the Federal Unemployment Tax Act (FUTA) credit reduction for Arizona, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Rhode Island, Vermont, Virgin Islands, and Wisconsin will affect your FUTA taxes, Form 940, and Schedule A for 2012.
Assumptions
You have an active payroll subscription and an up-to-date Assisted payroll version of QuickBooks.
Expected Outcome
You will have information about the Federal Unemployment Tax Act (FUTA) credit reduction for your state.
Details
In early January 2013, 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 2013, 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 2012, you must submit the additional payment provided in the email to the IRS yourself.
"As you requested when you canceled your Assisted Payroll service last year, we have prepared and will file your annual tax returns for 2012. However, you owe an additional amount for Federal Unemployment Tax due to the FUTA Credit Reduction for 2012. 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 31, 2013."
You can make your payment to the IRS directly using EFTPS, or by mail (if less than $500.00). See the following for payment instructions:
- 2012 Instructions for Form 940
- Electronic Payment Options Home Page
- Information from the IRS about the FUTA Credit Reduction
- IRS Telephone Assistance
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