How to determine the Federal Deposit Schedule?

Last modified 9/16/2024 6:42:16 AM EST

The IRS requires businesses to deposit payroll taxes either monthly or semi-weekly, based on the total tax liability reported on Form 941. Your deposit schedule depends on the amount of employment taxes your business owes during the “lookback period”.

• Monthly Depositor: If your total payroll tax liability for the lookback period is $50,000 or less, you will be a monthly depositor. Deposits are due by the 15th of the following month.

• Semi-weekly Depositor: If your total payroll tax liability exceeds $50,000, you will need to follow the semi-weekly schedule. Deposits for wages paid on:

  • Wednesday, Thursday, or Friday are due by the following Wednesday.

  • Saturday, Sunday, Monday, or Tuesday are due by the following Friday.

The IRS will notify you of your deposit schedule based on your filing history.