Important Payroll Update!

Lend your eyes and ears to this important update!        Inuit has just released Payroll Update 2013, with revised tax tables. There are Several forms updates that are included for Standard and Enhanced Payroll customers. As you read this you should be asking yourself whether or not you have already received the Payroll Update 2013.        Not sure if you have received it or not? Don't worry! Below you'll find instructions on how to check to see whether or not you have gotten the update. Make sure that you have received everything in the P Update so that you can be in compliance with legislation that affects your payroll. For details on the contents of this update, open QuickBooks, go to Employees > Get Payroll Updates, and click on the Payroll Update Info button. How to check to see if I have the update? Open QuickBooks and choose Employees > Get Payroll Updates. You should see a message that says, "You are using tax table version: 21302." If you do not have version 21302, click Update. For more detailed instructions, click here. Turn on automatic updates feature for Payroll Updates:  Choose Help > Update QuickBooks. On the Options tab, select Yes for Automatic Update. For more information, click here. Other Important News! Federal Tax Withholding Tables for 2013        At the time of this payroll update, the IRS had not published the 2013 federal withholding tables for wages paid in 2013. You should continue to use the current federal withholding tables. Once the IRS publishes the 2013 federal withholding tables, Intuit Payroll will include them in an upcoming payroll update. For more information, click here. New Payroll Tax Item: Medicare Employee Addl Tax       Beginning January 1, 2013, employers will be responsible for withholding an additional 0.9% Medicare tax from an employee's wages and compensation paid over $200,000 in a calendar year. Click here for more information on the additional tax. A new payroll tax item, Medicare Employee Addl Tax, has been added to QuickBooks. If you have employees who are subject to Medicare tax, you should set up the new payroll tax item in QuickBooks prior to creating paychecks for 2013.