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QuickBooks Payroll: Florida Wage Base Change for 2012
Article ID: 2001355
PrintOverview
The Florida Department of Revenue, Unemployment Tax announced changes to unemployment insurance (UI) taxes effective January 1, 2012. The changes include a UI wage base decrease to $8,000 from $8,500 and modifications to the tax rate calculations. To view the announcement, click here and look under current topics.
Assumptions
You are an employer who pays wages in the state of Florida and have an active QuickBooks Payroll subscription.
Details
Frequently Asked Questions
When will these changes be available in QuickBooks?
Intuit QuickBooks Payroll will implement the wage base decrease in Payroll Update 21209, scheduled to be available 5pm PST April 5, 2012.
What if I subscribe to the Disk Delivery service?
The next disk delivery is scheduled for late June and will include this update. We highly recommend that you download and install the payroll update if you have internet access. Click here for more information and instructions.
What do I need to do?
- You will need to download Payroll Update 21209 as soon as it is available April 5, 2012. The payroll update will include the change to the wage base limit. For more information on how to download and install a Payroll Update, click here.
- The Florida Department of Revenue, Unemployment Tax will be issuing a new UI Rate notice, Form UCT-20.
- If you have received the Form UCT-20, and your rate has changed, enter the updated tax rate in QuickBooks effective 1/1/2012 for all Quarters. Click here for instructions.
- Run Payroll Checkup to determine the amounts for any liability adjustments.
- Make the necessary payroll liability adjustment in QuickBooks to account for the change to the tax liability.
- File your return.
What if I already filed?
There is no need to file an amended return; the agency will calculate the 1st quarter wages based on the $8,000.00 UI wage base and your newly assigned UI rate (if applicable).
What if I overpaid and expect a refund?
Any over paid taxes will be automatically refunded within 60 days if the refund is less than $1,000.00. If the refund is over $1,000.00, the agency does a review before the tax is refunded. (Overpayment of Florida taxes are applied to other unpaid Florida taxes due on an account before refunds are issued.) If you have questions about your refund, contact the agency at 800-352-3671.
Has the Form been updated to reflect the wage base change?
For Enhanced QuickBooks users the updated Form (UCT-6) will be available with the Payroll Update 21209.
