Every year, QuickBooks Desktop Payroll provides the latest payroll updates to subscribers with an active payroll subscription. Users should download the payroll tax table updates, including the most recent and accurate rates and calculations for payroll tax forms, updated state and federal tax tables, e-file and payment options, and more. Updating the payroll tax table can help employees assess the right amount of tax deduction from their salary.
The payroll tax table is a chart that involves a grouping of features arranged in different columns that assist in determining the right amount of taxes to be deducted from the employee's wages. Certain conditions affect these withholding taxes, including the employee's income, marital status, and payment frequency (bi-weekly or monthly). As a result, it is necessary to recalculate it each time when you provide your workers with their salaries.
Before Updating the QuickBooks Payroll Tax Table
Some points should be remembered before updating the QuickBooks payroll tax table. The following are the general points to note when updating the QuickBooks Payroll Tax Table. Let's discuss:
- It is recommended that you always check that you have an active payroll subscription before you make the update to the tax table.
- Ensure and activate the update of QuickBooks Desktop so that you can acquire Payroll tax table updates each time they are updated.
- Download the QuickBooks tax table every 45 days or when processing employee payments to ensure accurate payroll calculations and compliance with current tax rates.
- Ensure QuickBooks Desktop is updated to the latest version for optimal performance. Update if necessary to access new features and fixes.
Update the QuickBooks Desktop Payroll With the Latest Tax Table
To update the QuickBooks desktop payroll, you must ensure that you have thoroughly updated the most recent version of the tax table. Learn how to introduce the most recent tax table into QuickBooks Payroll to get the most appropriate paychecks. Have a thorough look at these steps to update QB Desktop payroll.
- Verify or update the latest tax table
- Navigate to the Employees and choose Get Payroll Updates.
- To check your current tax table version, look at the number next to ‘You are using tax table version.’
- Verify your correct version by checking the latest payroll news and updates.
- For more details about your tax table version, click Payroll Update Info.
- To download the latest tax table, select Download Entire Update.
- Next, click on the Update button. An informational window will appear once the download is complete.
Maintaining the current payroll tax tables in QuickBooks Desktop is essential and relevant for running payroll and following the tax laws. Therefore, any business needs to follow the simple procedures highlighted above to download the payroll tax table updates and do their payroll calculations effectively. There can be situations when you might not download the payroll updates due to issues such as QuickBooks error code 557. In this case, visit our detailed article to find the appropriate fixes.