Why is payroll not calculating the correct amount for the IRA deferral.

There are factors that can affect the incorrect calculation amount for the IRA deferral in QuickBooks Online (QBO). Let me provide more details about it, @orchardhillmachi.

Firstly, please know that QBO automatically updated its tax tables to reflect the latest federal, state, and local tax laws.

Since your IRA contributions are inaccurately calculated, I suggest you review your payroll profile to verify if you've set it up correctly. Errors in this area can lead to incorrect calculations of your IRA deferrals. To resolve the issue, please ensure that the information in your profile is accurate and up to date.

To do so, here's how:

1. Head to Payroll, then Employees.
2. Identify and select the employee you need to edit.
3. In the Deductions & Contributions section, choose either Start or Edit.
4. To confirm your deduction details, click the pencil icon next to the trash bin. If there are any inaccuracies in your setup, be sure to correct them.

For additional information, check this article: Set up or change a retirement plan.

However, If you have already processed your payroll and need to change your IRA calculation, I suggest reaching out to our support team. They have the necessary tools and expertise to assist you in accurately adjusting your IRA deferral calculation.

To contact them here's how:

1. Sign in with your QuickBooks Online company.
2. In the upper right corner, click on the Help icon.
3. Select Search, then click Contact Us.
4. Write your issue or concern and click Continue.
5. Choose a way to connect with them.

Additionally, to manage and track your payroll details and taxes, you can check out this article for guidance: Run payroll reports.

You can always get back to this post if you have other concerns about payroll deduction in QBO. I'll make sure to help you as soon as possible.