QuickBooks Payroll Bulletin | December 2006

Find Answers at the QuickBooks
Year-End Center

KeyboardThe updated QuickBooks Year-End Center Web site provides a one-stop resource for all of your year-end payroll tasks. No matter which QuickBooks Payroll service you've chosen, we have some great information to make your year-end smooth. For example, we've compiled an easy-to-use payroll primer to help Standard and Enhanced Payroll subscribers prepare and file tax forms, including W-2s for employees, 1099s for independent contractors, federal Form 940, and state year-end forms.

Before you get ready to run your first payroll of the new year, check the site for important tips about updating your tax rates and ensuring that you start the new year with clean, accurate data.

Visit the site frequently for all the latest information, including payroll updates, product updates, usage tips, and answers to all of your FAQs.

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I Do My Own Tax Filings

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Making Your Life Easier

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Give Your Employees a 15% Discount on TurboTax Products

Intuit Payroll Services and TurboTax® have teamed up to offer your employees a 15% discount on TurboTax® OnlineSM products and to enable the Instant Data Entry service.

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W-2 and 1099 Tax Forms: Save Time with QuickBooks-Compatible Tax Kits

Save time processing your 2006 tax forms by ordering the all-inclusive W-2 and 1099 Tax Forms Kits from Intuit. These kits are specifically designed for current QuickBooks Payroll subscribers. The data in your QuickBooks software prints directly onto the correct sections of each form, making the completion of these forms easier.

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Save 10% on Direct Deposit

Simplify Your Payroll in 2007 with Direct Deposit and Save 20%1

Designed for small businesses, QuickBooks® Direct Deposit is an easy-to-use service that can help save you time and give you flexibility on payday. Both employers and employees appreciate the many benefits of direct deposit.

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For QuickBooks Direct Deposit Customers

QuickBooks Payroll will not process direct deposits on Monday, Dec. 25, 2006, and Monday, Jan. 1, 2007, because of the Federal Reserve Bank's observance of the Christmas Day and New Year's Day holidays. To comply with the Fair Labor Standards Act, you might need to send your direct deposit payroll earlier than usual.

Find out more

Important Payroll Dates

December 2006
Sun Mon Tue Wed Thu Fri Sat
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
January 2006
Sun Mon Tue Wed Thu Fri Sat
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

I Do My Own Tax Filings

Jan. 9, 2007: The IRS e-filing servers will begin accepting e-filings for 2006 Form 940 and fourth quarter 2006 Form 941. If you attempt to e-file these forms before Jan. 9, you will receive a rejection message and will need to resubmit your e-filings through QuickBooks.

Jan. 11, 2007: Intuit Payroll Services will begin accepting W-2 e-filings.

Jan. 31, 2007: Supply each employee a completed Form W-2, Wage and Tax Statement.

Jan. 31, 2007: Deadline to file Form 940 (FUTA) for 2006.

Jan. 31, 2007: Deadline to file Form 941 for fourth quarter 2006.

Jan. 31, 2007: Deadline to file Form 944 for 2006 if you are a small employer assigned this filing type by the IRS.

Jan. 31, 2007: Deadline to file Form 943 for 2006.

Feb. 28, 2007: Deadline to file Form W-3, Transmittal of Wage and Tax Statements, along with Copy A of all the Forms W-2 you issued for 2006 (April 2, 2007, if you file electronically).

I Get Assistance with My Taxes

Nov. 10-Dec. 15, 2006: Form W-2 data verification for QuickBooks 2007 and QuickBooks 2006 customers.

Dec. 27, 2006: Deadline is 5 P.M. Pacific time for 2006 payroll adjustments without incurring a back date fee. If you transmit after this time, you also risk tax penalties and the potential need for amendments and corrected W-2 forms.

Jan. 15, 2007: Employers who are self-printing employee W-2s may access W-2s via View/Download Tax Forms in QuickBooks.

Jan. 26, 2007: Receipt of printed employee W-2s for those employers receiving paper copies.

Jan. 31, 2007: Supply each employee a completed Form W-2, Wage and Tax Statement.

All Services

Jan. 31, 2007: Deadline to supply each 1099-subcontractor with a completed Form 1099.

Feb. 28, 2007: Deadline to file IRS Form 1099 for each recipient (April 2, 2007, if you file electronically).

Holidays

Dec. 25, 2006: Federal Reserve bank holiday—Christmas Day

Jan. 1, 2007: Federal Reserve bank holiday—New Year's Day

Jan. 15, 2007: Federal Reserve bank holiday—Martin Luther King, Jr. Day

Feb. 19, 2007: Federal Reserve bank holiday—Presidents' Day

QuickBooks Payroll Bulletin
Editor: Lise Quintana
Publisher: Intuit
We welcome your suggestions and feedback!
E-mail us at payroll_editor@intuit.com