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Intuit QuickBooks Payroll

Intuit QuickBooks Payroll 
Payroll Update: Revised Tax Tables

Intuit has released Payroll Update 21205, which includes revised tax tables to reflect the Social Security tax rate change that is scheduled to take effect on March 1, 2012.

How do I get the Payroll Update?
It’s important that you receive everything in the Payroll Update to make sure that you are in compliance with legislation that affects your payroll. Just follow these three simple steps:

  1. Check to see if you have Automatic Updates turned on.
    Choose Help > Update QuickBooks.
    — On the Options tab, you will see either Yes or No selected for Automatic Update.
  2. If Yes is selected, verify that you received Payroll Update 21205 from within QuickBooks. Go to Employees > Get Payroll Updates. You should see a message that says, “You are using tax table version 21205.”

    If you do not have version 21205, you need to download the update manually.Click here for instructions.

  3. If No is selected for Automatic Update, you need to download the update manually. Click here for instructions.

Disk delivery customers: The next disk delivery is scheduled for late March 2012 and will include these updates. If you have an internet connection, we strongly recommend that you download the update now. Simply follow these instructions to install the update.

Social Security Tax Rate for Employees
The Temporary Payroll Tax Cut Continuation Act of 2011 (H.R. 3765) that was signed into law on December 23, 2011, extended the 4.2% Social Security tax rate for employees through February 29, 2012. According to the Act, the employee tax rate will revert to 6.2% on March 1, 2012.

Intuit QuickBooks Payroll is supporting this change in Payroll Update 21205. For more information, click here.

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