The economic stimulus plan signed into law on February 17, 2009, known as the American Recovery and Reinvestment Act of 2009 (ARRA), has two provisions that could impact your payroll and your taxes:
Making Work Pay tax credits: This tax credit for tax years 2009 and 2010, issued through employer payroll taxes by implementing new withholding tables, takes effect no later than April 1, 2009.
All QuickBooks Payroll subscribers (Basic, Standard, Enhanced, and Assisted) receive the new IRS tax tables through tax table updates.
COBRA premium subsidies: Employers who are required to subsidize COBRA premiums for assistance-eligible individuals may take the subsidy amount as a credit or apply for a refund.
See the "COBRA Premium Subsidy Guide for QuickBooks" on the ARRA Payroll Support site to learn how
to track and report these subsidies in QuickBooks.
For more information about the ARRA and how Intuit is helping payroll customers, visit the
ARRA Payroll Support site.