Intuit Payroll with Bank of America
If you want to be eligible for the Intuit Payroll Service from Bank of America, then you must first open a checking account with this bank.
Once you have opened an account from the Bank of America, you still have to wait for five business days before you can use your direct deposit. Those who signed up for this Payroll Service would need internet access and pay for internet service provider fees.
Intuit Payroll helps payroll processing less daunting. This is true whether you have only one employee or 150 of them. Intuit Payroll Service comes in two types. First is the Basic Service, including paycheck calculation, electronic federal tax filing, direct deposit, comprehensive reporting of employee details, payroll summary, and tax payments.
Second is the Enhanced Service, which includes all the services that the Basic version provides. In addition, it also includes services such as payments and filings for 1099-MISC forms. The Enhanced version of Intuit Payroll also includes calculation of state tax for employees that are in several business locations.
If you signed up for the Basic Service, you would be entitled to a $20 discount if you send payments to all your employees via direct deposit using your Bank of America account. However, if you are not paying all your 20 employees via direct deposit using your Bank of America account, be prepared to pay $2 for a monthly fee.
With Bank of America’s Intuit Payroll Service, you can have an instant calculation of your voluntary, state or federal withholdings. The bank also waives the monthly maintenance fee for those who have signed up for their Bank of America Advantage Plus Banking™. To qualify for this benefit, an employee should have a minimum of one direct deposit worth $250 for every statement cycle. Those who maintain a $1,500 average daily balance or more will also qualify for the waived monthly fee.
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