Get 50% OFF QuickBooks for 3 months*

Buy now
cancel
Showing results forΒ 
Search instead forΒ 
Did you mean:Β 
Announcements
Work smarter and get more done with advanced tools that save you time. Discover QuickBooks Online Advanced.

Reply to message

View discussion in a popup

Replying to:
CarHa
Level 1

Reply to message

I was able to "chat" with a QB Rep and they sent me this link to an Income Tax Calculator Spreadsheet. Surprisingly, when I filled it out, it calculated $0 for my employee (Set up in QB as Head of Household, $5000 for dependents). I spot checked some of my other employees (those using 2019 and before and those using 2020 or later W-4) and came up with the correct amount that was withheld on each paycheck. I am not sure why this new 2020 or later W-4 form knocks out federal withholding for these people/paychecks. My question is...will they owe big time once they file their taxes? Also, is it fair to those who filled out the form prior to 2019 and aren't receiving this change in withholding calculation? Because when I switched said employee above to the 2019 and prior option, he would have had about $300 withheld. It all seems strange to me. 

 

https://www.irs.gov/businesses/small-businesses-self-employed/income-tax-withholding-assistant-for-e...

Need to get in touch?

Contact us