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How Will President’s Day (Monday, February 15, 2010) Affect Payroll Tax Payments and Direct Deposit in QuickBooks Payroll
Published 02/02/2010 | 
The Federal Reserve Bank?s observance of the President's Day holiday (Monday, February 15, 2010) may affect your payroll processing cutoff times, including direct deposit.
If your normal paycheck date is on 2/15/10, to ensure timely tax payments and comply with the Fair Labor Standards Act, you should:
- Change your paycheck date to Friday, 2/12/10
- Send your payroll by 5 PM Pacific Time on Wednesday, 2/10/10
For other check dates, you might need to send your payroll a day earlier than usual, as described below:
| If you date your paychecks for… | Send payroll by 5:00 PM Pacific Time on… | Your account will be debited on*… | Employees get paid on (Direct Deposit only)… |
|---|---|---|---|
| Friday, 2/12 | Wednesday, 2/10 | Thursday, 2/11 | Friday, 2/12 |
| Tuesday, 2/16 | Thursday, 2/11 | Friday, 2/12 | Tuesday, 2/16 |
| Wednesday, 2/17 | Friday, 2/12 | Tuesday, 2/16 | Wednesday, 2/17 |
*Accounts are typically debited before regular banking hours, so you should have sufficient available funds in your account the day before the actual debit occurs.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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