Resolve payroll tax overpayments or underpayments


Resolve tax overpayments or underpayments
QuickBooks Help
From the article:

Why do I have an overpayment?
The most common causes of tax overpayments and underpayments are:

Incorrectly entered tax rate; in particular, the state unemployment insurance (SUI) rate.
Paychecks added or deleted after the tax payment was approved for the payroll period.
Incorrect reconciliation of historical taxes
If an overpayment appears because of historical taxes
When you entered your prior tax payments, we noticed that you have overpaid your taxes so far this year.
If you still have at least one payroll to run in the same quarter, you don’t need to do anything.
If the quarter with the overpayment is over, you need to resolve the overpayment.
You have entered your prior tax payments, but you have not yet entered tax information from your prior paychecks. (That is, you have told us about the taxes you have paid, but you have not yet told us about the tax liabilities you have incurred. Our system thinks you have overpaid your taxes.)

Once you have entered your pay history, your tax liability will no longer be negative (unless you have in fact overpaid your taxes). …


 







QuickBooks Online – Buy now and save 50%



FREE Trial
USA
CANADA

XERO – Alternative to QuickBooks

SAGE 50 Accounting

Limited Time Offer—Save Up To 37% On Sage 50 Accounting Software!

%d bloggers like this: