Critical Payroll Alert For all QuickBooks Payroll Users

Critical Payroll Alert For all QuickBooks Payroll Users
Payroll Update 21102: New Federal Withholding Tables, Tax Relief Act

Intuit has released Payroll Update 21102, which includes the federal withholding tables for 2011 and reflects the Tax Relief Act of 2010 signed by President Obama on December 17, 2010.

What do I need to do?
 
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, you should receive all Payroll Updates automatically when they are released the next time you are connected to the internet.

You can verify that you received Payroll Update 21102 from within QuickBooks. Go to Employees > Get Payroll Updates > Update. You should see a message that says, "You are using tax table version 21102."
3.        If No is selected for Automatic Update, you need to download the update manually. Go to  http://payroll.intuit.com/support/kb/1001166.html for instructions.

State Withholding Changes
What’s Included in Updates  AND  what you must do manually

Payroll Update 21102 WILL
 
Update your state’s SUI annual wage limit – if you have successfully downloaded or installed this update, 2011 wage limits will be adjusted for 2011 (note you will not see this change until Jan 1, 2011.)

Payroll Update 21102 WILL NOT
 
Update your individual company’s UI rates for 2011. 

You will have to go into the Payroll Item List and manually change that and any other state rates such as SDI or SETT per the notice you should have received from the state in the past 30 days. 

 If you do not have that notice, you must contact your state Unemployment office before you run your first payroll and if you have a service preparing your payroll, you must inform them of the new rate(s) before the first payroll dated in 2011 is processed.  

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