QuickBooks Payroll Bulletin | December 2006

Find Answers at the QuickBooks
Year-End Center

The 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.

Other Headlines

• 10 Tips for Optimizing QuickBooks Performance
• Cleaning Up and Archiving Your Data
• Update Your State Unemployment and State Disability Insurance Rates
• Calculating Federal Withholding for Nonresident Aliens
• Maryland Prohibits the Printing of Social Security Number on Pay Statements
• Payroll Updates in December and January

I Do My Own Tax Filings

In Standard and Enhanced News:

• QuickBooks 2007: New in December
• Form 940 Redesign
• Form 943 Update
• Form 944 for Eligible Small Employers
• 2006 Form W-2 Suffix Field
• Designated Roth Accounts in 401(k) or 403(b) Plans
• Update on 2006 Form 1096 Ordered from Intuit

I Get Assistance with My Taxes

In Assisted News:

• Form 940 Redesign
• Form 944 for Eligible Small Employers
• Designated Roth Accounts in 401(k) or 403(b) Plans

I'm an Accountant

In Accountants News:

• Payroll Resources for Accountants

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

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The information contained in this newsletter is meant to provide general information about the payroll process and is not intended to provide tax or legal advice. This newsletter does not address, and is not meant to address, the entire body of federal, state, and local law and regulation governing the payroll process, payroll taxes, or employment law. Such laws and regulations change frequently and their effects can vary widely based upon the number of employees, geographic location, exempt status, labor regulations, and other specific facts and circumstances. You are responsible for consulting with your own professional tax advisor, accountant, and/or attorney concerning your business's specific concerns.

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