Level 2

6.2% Federal Payment delay

Forum|Forum|6 years ago
April 4, 2020
3 replies
19 views

Does IOP or QBPayroll have a solution for how to only remit part of the tax due for semi-weekly, monthly and Quarterly tax payments? How to we remit part but not all of the federal tax due?

This topic has been closed for replies.

BobKamman

Level 15

You mean, some people out there still have employees?

As I read the law, it applies only to wages paid after March 13. I think you have to take 6.2% of those, and subtract it from what you deposit or pay directly. IRS will have to sort it out later.

Just-Lisa-Now-

Intuit Community Champion

Form 7200 along with the second qtr reports will include the wages from March 13-31

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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ad16_2Author

Level 2

The Form 7200 only addresses the credits - but not the deferral of SS tax. I have weekly and monthly payers. Intuit has to give us an option to pay part of the tax due or else we are all going to pay manually and still pay for software that is essentially useless. [for those clients that still have payroll...point taken!]

BobKamman

Level 15

Intuit doesn't have to give you anything. The fine print has a force majeure clause. Well, I don't know that for sure, but I bet it's there and it's a useful vocabulary lesson for today.

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ad16_2Author

Level 2

That was sort of unnecessary...

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