QuickBooks Online is implementing mandatory payroll changes that may directly impact how your payroll and payroll tax payments are handled. The first change is effective Monday, April 27 with additional changes going into effect on July 1.
What’s Changing
- EIN & PIN Required (Effective April 27): All QuickBooks Online payroll users must enter their EIN and payroll PIN in order to process payroll. Payroll may not run unless this setup is complete.
- Automatic Payroll Tax Payments (Effective July 1): Once this setup is complete, QuickBooks will automatically withdraw payroll taxes on the day payroll is processed, not on the actual tax due date. This removes the ability to control payment timing and cash flow.
- Quarterly Filings Filed by QuickBooks (Effective July 1): If Shultz Huber currently prepares your quarterly and year-end payroll reports and W-2s, this service will automatically transition to QuickBooks on July 1.
- Please note: If you choose to proceed with automatic filings, QuickBooks will not provide them to our office for review/corrections before they are submitted. This may also impact S Corp payroll add ons, including year-end filings.
What You Should Do
If you:
- Want to understand how these changes affect your payroll
- Have concerns about automatic tax withdrawals
- Want to explore alternative payroll or filing options, including have Shultz Huber & Associates provide beginning to end payroll services
- Need assistance with setup or compliance
Please contact our office so we can review your situation and make recommendations.