Last month, Intuit announced a new service which will automatically share payroll data from small businesses with Equifax. The Intuit FAQ page has been updated as recently as August 9, 2021 (the writing of this article) to reflect additional information.
Beginning early fall, Intuit will share payroll data for Intuit payroll products with the income and employment verification service powered by The Work Number from Equifax. According to the FAQ, "Information from The Work Number is considered a consumer report under the Federal Fair Credit Reporting Act (FCRA). Only Verifiers with a certified permissible purpose can obtain a consumer report from The Work Number. The Work Number credentials and approves each Verifier before they can request access to any of your employee’s info."
Businesses can opt out of the data share at any time by turning the service off in their payroll preferences and settings and can later opt back in at any time. Businesses are not required to inform employees of the data sharing service. The service does allow employees to individually freeze their employment information data by calling The Work Number Employee Service Center for assistance at 866-222-5880.
There are no additional charges to employees, employers or accounting/bookkeeping professionals for the service.
Here is a full list of the QuickBooks payroll products that will be included in the service:
- QuickBooks Online Payroll Core, Premium, and Elite
- QuickBooks Online Payroll within QuickBooks Online for Accountants
- Intuit Online Payroll Enhanced
- Intuit Online Payroll for Accountants
- Intuit Online Payroll Full Service
- Intuit Full Service Payroll for Accountants
- QuickBooks Online Payroll Enhanced and Full Service
- QuickBooks Desktop Payroll
For more information, including instructions on how to opt out of the service in each payroll product, read the updated FAQ "Get answers to questions about The Work Number® from Equifax".