Nearly 30% of small business owner’s overpay their taxes every year to the state and federal tax authorities either because of the incorrect tax payment calculation or because of the fear of getting penalties from the IRS. If you are an employer who has overpaid payroll tax liabilities using QuickBooks, then you might want to get the overpaid amount credited as your payroll tax liabilities and get this overpayment adjusted in QuickBooks Company file. This article clarifies every step you need to take to adjust overpaid payroll liabilities in QuickBooks and getting it as a credit to payroll tax liabilities.
In some cases, users found liabilities are missing from the pay scheduled liabilities section under the Employee Center and there are several reasons that cause this inaccuracy in the application. You can view payroll tax liabilities under the Payroll tab in the Employee Center window.