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H
hhoward-bwrmail-
July 1, 2024
Question

CHANGES IN AUTOMATED TAX WITHDRAWALS.What justification is there for this change? It amounts to an interest-free loan with no benefit to the customer. HAYES

  • July 1, 2024
  • 3 replies
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What is the amount of benefit to QuickBook from all the customers using payroll services to pay employee taxes? HAYES

3 replies

MsNorthPND18
MsNorthPND18
July 1, 2024

The automated tax withdrawal feature in QuickBooks Online (QBO) now lets customers preview withdrawal amounts when running payroll and view past or upcoming withdrawals, Hayes. I can help you to learn about this feature.

 

In QBO, we'll automatically withdraw taxes every time payroll is processed or when there's a change in what you owe, instead of waiting for the due date. This way, customers can preview the withdrawal amounts when running payroll and see upcoming or past withdrawals in the Payroll Tax Center.

 

And the benefits of automated taxes and forms are included in your QuickBooks Online Payroll subscription at no extra cost. Simply complete your tax setup and connect your bank account. QuickBooks can help you stay on top of tax payments and filing deadlines by automatically paying and filing your taxes. This can assist you in avoiding missing payroll tax payments due to insufficient funds set aside.

 

Here's how to set up QuickBooks Online Payroll:

 

  1. Access Settings then Payroll Settings.
  2. Then select Taxes and Forms, Edit.
  3. Choose one of the options:
  • Automate taxes and forms or I’ll initiate payments and filings using QuickBooks.
  1. Click Save, then Done.

 

For additional information on automated tax withdrawals, check out this article: Changes with automated tax withdrawals in QuickBooks Online.

 

Moreover, learn how to pay and file your 941, 944, 943, 940, state, and local taxes using QuickBooks e-pay and e-file:

 

  • Set up QuickBooks Online Payroll to pay and file your payroll taxes and forms
  • Pay and file payroll taxes and forms electronically in QuickBooks Online Payroll

 

If you have any other follow-up questions about automated tax withdrawals, please let me know by adding a comment below. I'll be here to help you.

S
srtgroup
October 11, 2024

wt_.  This is obnoxious.  I am guessing (but pretty sure) this was calculated, including some dissent, to be a highly profitable change for Intuit.  Between this and removing the free Melio service, I'm officially looking for my next solution.  I'm not deluded into thinking Intuit will care.  Please post if you have other options that you like.

    9
    9130349659890896
    July 1, 2024

    AMEN!  Will OUR money that QB now "holds" be held in an interest bearing account and, if so, when should we expect those interest payments to be sent back to us?  Are you kidding me?  

      R
      Rhensley2
      July 1, 2024

      This doesn't make sense???  Intuit spins it as if this is in our best interest, but ultimately, they are taking our money...which they are most likely investing with it.  There is no logical reason for Intuit to have our money earlier than tax payment time.

       

        BigRedConsulting
        BigRedConsulting
        July 2, 2024

        RE: Intuit spins it as if this is in our best interest, but ultimately, they are taking our money...which they are most likely investing with it. 

         

        Yes, total spin that a child could see through whilst playing a game on their phone.

         

        Basically they're just lying and saying it's streamlined, and so that's oh-so-much better, when they know they it's just a money grab.

         

        But I actually don't see how it's more streamlined, exactly. Or how it's better for anyone - except Intuit.

          J
          Jeff Hausman
          July 11, 2024

          It truly is mind boggling how many ways QB finds to extract more money from the people they "serve." 

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