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Home   Help with Intuit Products   Intuit Payroll   QuickBooks Payroll (Desktop)  
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shirley468
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shirley468
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12/29/11 1:05pm PST
Viewed by asker 01/01/12 12:54pm PST

Why is Soc Sec tax in Payroll 6.2%. It is supposed to be 4.2%

US QuickBooks Pro for Windows

Just tried to do Payroll for 2012, soc sec for employee is coming up w/ 6.2% instead of 4.2. What's going on. Everyone knows that's been kept until Feb 29

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Memere
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Memere
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12/29/11 1:08pm PST

Per email sent out around 12:30 today:

 

Payroll Update: Revised Tax Tables

Intuit has released Payroll Update 21202, which includes revised tax tables and forms updates and reflects the Temporary Payroll Tax Cut Continuation Act of 2011 signed by President Obama on December 23, 2011. To see the complete contents of this update, click here.

How do I get the Payroll Update?
It's important that you receive everything in the Payroll Update to make sure that you are in compliance with legislation that affects your payroll. Just follow these three simple steps:

  1. Check to see if you have Automatic Updates turned on.
    --
    Choose Help > Update QuickBooks.
    -- On the Options tab, you will see either Yes or No selected for Automatic Update.
     
  2. If Yes is selected, you should receive all Payroll Updates automatically when they are released the next time you are connected to the internet.

    You can verify that you received Payroll Update 21202 from within QuickBooks. Go to Employees > Get Payroll Updates. You should see a message that says, "You are using tax table version 21202."
     
  3. If No is selected for Automatic Update, you need to download the update manually. Click here for instructions.

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Employee
12/29/11 1:12pm PST

This is Tamara from Intuit QuickBooks Desktop Payroll responding to your post regarding the employee social security rate for 2012.  The employee rate of 6.2% was released in payroll update 21201 on 12/15/2011 because that was the rate for 2012 as published by the IRS in Notice 1036.     

Since the release of 21201, the Temporary Payroll Tax Cut Continuation Act of 2011 was signed into law on 12/23/2011. 

The tax tables were being updated to incorporate the change for the employee rate remaining at 4.2% for the first two months (January and February) of tax year 2012. The change is incorporated in payroll update 21202 that released today.

 

If this answers your question, please mark this as solved.

Also, please help me improve my performance by answering a short survey that will be emailed to you from the community.

Thank you.
Tamara
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shirley468
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12/29/11 1:46pm PST

I have updates automatically turned on. So...we recd 21201 which changed the soc sec for employee back to 6.2% and I recd it automatically.  But Intuit should notify its users that an update has been done....because the update 21202 was NOT sent to my system automatically and it was just done today???  I went in and requested it as you suggested and now I'm assuming we're back to 4.2% but why wasn't the 21202 sent to me automatically?  People did their payroll and they were all incorrect w/ 6.2. Now they have to do it over again?  Intuit should do better than this and if you don't, at least notify your users that there has been a [removed]-up.

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12/29/11 2:27pm PST

I am sorry that you did not receive 21202 via an automatic update.  It is possible that 21202 did not come through automatic updates if your computer was already on prior to the release.  Intuit did send out an e-mail notification today as Memere provided. 

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12/29/11 2:34pm PST

Shirley - keep that attitude when you go to the voting booth next fall.  Congress dragged their feet on this and made life difficult for all software providers.  Software changes don't happen over night so you have to cut Intuit some slack on this one.

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12/29/11 2:50pm PST

 And the count is.....?

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12/29/11 2:56pm PST
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Memere was filling in for me and got this one logged in on the counter.

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