The information in your Tax Profile allows Wave to calculate the employer portion of payroll tax liabilities and remind you when tax payments are due.
United States
If your business receives a new Federal EIN due to restructuring, you must create a new business in Wave.
- Click your business name in the top right corner, then click Business settings.
- In the Settings menu, under Payroll, click Tax Profile.
- Click the dropdown arrow to the right of the tax you need to edit.
- Click the pencil icon to edit the existing number, or select the trash can to delete
the number.Ensure the numbers you enter are formatted correctly as the format varies by state. Reach out to your state or refer to any documentation from the state that shows how the number is formatted.
- To enter a new number, click New, then enter the number and effective date.
- Click Submit.
Some tax information updates must be requested through our Support Team. These updates are:
- Federal filing frequency
- Marking your business as 501(c) exempt
- Correcting your federal EIN if you have already processed a payroll
- Tax identifier effective date
To request an update, open Mave, Wave’s automated chatbot, and type human support business tax profile update. Provide the tax details you need updated and any new information.
If an employee from another state is no longer employed with your business, the employer portion of their taxes will remain on your Tax Profile. This information cannot be deleted for compliance purposes.
Canada
If your business receives a new CRA payroll account number due to restructuring, you must create a new business in Wave.
- Click your business name in the top right corner, then click Business settings.
- In the Settings menu, under Payroll, click Tax Profile.
- Click the dropdown arrow to the right of the detail you need to edit.
- Click the pencil icon to edit your CRA payroll account number or payroll
remittance frequency. - Click the checkmark icon.
If you have approved a payroll, you cannot edit your CRA payroll account number.