Tax deposit schedule
A tax deposit schedule is the monthly or semiweekly timetable on which you must deposit withheld federal income tax and FICA taxes.
- LAW
- 26 CFR §31.6302-1
- LIMIT
- $50,000 of lookback taxes separates monthly from semiweekly
- DEADLINE
- $100,000 accumulated means deposit the next business day
- WATCH FOR
- A correct register line does not prove a deposit
2026 and 2027 payroll calendars
Pay dates, bank file dates and federal deposit due dates, by pay schedule:
Before each calendar year, you determine your schedule from the taxes you reported during a lookback period. For Form 941Form 941. Form 941 (Employer’s Quarterly Federal Tax Return) reports wages paid, federal income tax withheld, and both shares of Social Security and Medicare tax.Click to open the term filers, that is the four quarters ending June 30 of the prior year. Report $50,000 or less and you deposit monthly; report more and you deposit semiweekly. How often you pay employees does not decide it. A new employer deposits monthly in its first calendar year, unless the $100,000 next-day rule applies. Every federal tax deposit goes by electronic funds transfer.
Monthly or semiweekly?
Your tax liability arises on the day you pay wages. For monthly depositors, the deposit period is a calendar month. Semiweekly depositors have two deposit periods a week: Wednesday through Friday, and Saturday through Tuesday. State and local tax authorities set their own deposit schedules, so one pay date can carry several deadlines.
| RULE | MONTHLY | SEMIWEEKLY |
|---|---|---|
| Lookback-period taxes | $50,000 or less | More than $50,000 |
| Wednesday to Friday paydays | By the 15th of the next month | By the following Wednesday |
| Saturday to Tuesday paydays | By the 15th of the next month | By the following Friday |
| Extra filing | None | Schedule B (Form 941) with each Form 941 |
How do the lookback period and next-day deposit rule work?
The lookback period is the window of past returns whose reported taxes set this year’s schedule. Use taxes as originally reported: later corrections, such as Form 941-X, don’t count, and any time before you started or acquired the business counts as zero. The $100,000 next-day deposit rule overrides both schedules. Accumulate $100,000 or more in taxes on any day of a deposit period, before nonrefundable credits, and you deposit by the next business day by electronic funds transfer, such as EFTPS, IRS Direct Pay, or your IRS business tax account.
| RETURN YOU FILE | LOOKBACK PERIOD FOR 2026 |
|---|---|
| Form 941 | July 1, 2024, through June 30, 2025 |
| Form 941, after filing Form 944 in 2024 or 2025 | Calendar year 2024 |
| Form 943 or Form 944, this year or either of the 2 prior years | Calendar year 2024 |
Making each deposit
You can deposit through EFTPS, the Electronic Federal Tax Payment System. It is the free U.S. Department of the Treasury service for paying federal taxes electronically. IRS Direct Pay and your IRS business tax account are also free. A tax shown correctly on the payroll register does not prove the deposit was made.
- 01
Total your lookback taxes from Form 941, line 12, for the four quarters in the lookback period.
- 02
Set your schedule before the year starts: monthly at $50,000 or less, semiweekly above it.
- 03
Record each liability on the day you pay wages, and watch the $100,000 next-day rule.
- 04
Deposit by electronic funds transfer by each due date, moving to the next business day for a weekend or legal holiday.
What if a deposit is late?
Penalties may apply when you deposit late or deposit less than the required amount. They don’t apply when the failure was due to reasonable cause and not willful neglect. The penalty counts calendar days from the due date. Paying the IRS directly, or with your return, instead of depositing can also cost 10%.
- 1-5 days lateA 2% penalty on the amount not deposited on time.
- 6-15 days lateA 5% penalty on the unpaid deposit.
- 16 or more days lateA 10% penalty on the unpaid deposit.
- Penalty deadline: 10 days after the first IRS noticeTax still unpaid then draws 15%, or sooner if you get a demand for immediate payment.
Frequently asked
- 26 CFR 31.6302-1, Deposit rules for taxes under the Federal Insurance Contributions Act (FICA) and withheld income taxes
- Publication 15 (2026), (Circular E), Employer’s Tax Guide
- Failure to Deposit Penalty
- 26 U.S. Code § 6656 - Failure to make deposit of taxes
General information, not legal or tax advice. Apply current federal and state rules with qualified guidance.