To meet the tax payment deadlines for the processing of ACH files and for the purpose of remitting tax payments and collecting funds, we adhere to a payroll file transmission cut off time of 3:00 pm CST two days prior to check date to help ensure files are sent to the bank timely. Failure to meet the file transmission deadline may result in the assessment of fees for submission of a late payroll.
Tax amounts to be drafted from your account are based upon the total taxes transmitted in the payroll file. The drafts are scheduled for one banking day prior to the check date and initiated via ACH one banking day prior to the tax due date. If you process two separate payrolls on the same day using the same check date, the draft will combine both amounts and draft the net amount.
Integrity Data cannot control what time of day your bank posts the debit to your account. To ensure the draft from Integrity Data is not returned, we highly recommend that you check your bank to confirm when debits are posted. As an extra precaution, Integrity Data also recommends that you make funds available by the close of business one banking day prior to the scheduled draft.
Due to the IRS and various state agency requirements associated with high liability payrolls, payrolls over $100,000.00 are subject to a Wire-In requirement. We have two options for you:
1.) Integrity Data is pleased to offer DrawDown FedWire, otherwise known as a “reverse wire” processing for your protection. This funding method is used by the industry giants to limit risk exposure. Common reasons you may want to use DrawDown FedWire processing is for “next day” payrolls or if your payroll liabilities are regularly over $100,000.00. If you prefer that we do a Reverse Wire for the payroll liabilities over $100,000.00, please complete the Reverse Wire Setup steps and return the authorization letter from your bank to me.
2.) Please provide us with your banking information so we can draft your account for each payroll. You may request the Wire In form needed for you to wire funds to our account in the event that the payroll tax liabilities are over $100,00.00.
Questions / Resources
If you have questions or comments, please email support@integrity-data.com
If you would like to search for information and resources for Integrity Data products, check out the following sites:
- Knowledge Base: https://www.integrity-data.com/knowledge-base/
- Videos: https://www.integrity-data.com/video-library
Last Review: 12/2/2021 – Revision: 0.0
Applies To: Tax Filing
Keywords: Quarter
Categories: Tax Filing
KB15-030