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Payroll Liabilities account

The Payroll Liability account is a current liability account that QuickBooks automatically adds to your chart of accounts when you turn on payroll.

The Payroll Liabilities account tracks taxes that you deduct from employees' paychecks and hold temporarily until you turn them over to the government. These include federal and state income withholding taxes, local taxes, and the employee-paid portion of taxes such as social security and Medicare.

If you use the Assisted Payroll service, your payroll liabilities account should show zero amounts for liabilities that are paid by the service.

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