Intuit provides a lot of answers on its frequently asked questions page, including how the process would work if Equifax, for example, were to request payroll information from a company. “When you have to manually provide this info to lenders, creditors, or government agencies, it can take time away from running a business and may slow down the approval process for your employees,” Intuit states in the company’s FAQ. The updated Terms of Service are available here. In communication provided to Intuit customers, the company says this new free feature, will make it easier for their employees to provide information to lenders, creditors, or government agencies. We will update as more details become available. NOTE: This update will not impact QuickBooks Desktop until sometime in the Fall of 2021. At that time, small businesses that use these programs will allow Intuit to share payroll information with Equifax, which will, according to information from Intuit, “let millions of small business employees get easy access to employment and income verification services when they wish to apply for a loan or line of credit.” According to Intuit, the program goes live on Aug. If you are a QuickBooks or Intuit Online Payroll user, time is running out to “opt-out” of The Work Number, a user-paid verification of employment database created by TALX Corp., a data broker acquired by Equifax in 2007. Don’t Want To Automatically Sync Employee Information With Equifax, You Don’t Have To – Learn How To Opt-Out
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