Hello, As of Oct 1, payroll taxes will be withdrawn from bank accounts. However, they will be paid when due. What happens to the float from these funds?

Welcome to the Community space, @denise105.

Allow me to share some information about recent changes in the automated tax withdrawal process in QuickBooks Online Payroll.

We are simplifying the payroll tax management process for QuickBooks Online Payroll customers. Instead of waiting for specific tax due dates to withdraw and pay taxes, we have implemented a new system where taxes will be withdrawn every time you process payroll or when taxes need to be updated. The funds will be put in a holding account until the funds are due to the tax agencies.

Furthermore, this improved system provides greater visibility, allowing you to view the withdrawal amounts when running payroll and review previous withdrawals in the Payroll Tax Center. 

Moreover, you can check this article about the changes in automated tax withdrawals in QuickBooks Online: Changes with automated tax withdrawals in QuickBooks Online.

Also, to know how to pay and file your 941, 944, 943, 940, state, and local taxes using QuickBooks e-pay and e-file, you can scan this article: Pay and file payroll taxes and forms electronically in QuickBooks Online Payroll.

Let me know by adding a comment below if you have more questions about the automated tax withdrawal process in QuickBooks Online Payroll, @denise105. The Community is 24/7 available for your needs. Take care!