For most U.S. employers filing Form 941, federal payroll tax deposits are due monthly or semiweekly based on the employer’s IRS lookback-period tax liability—not how often it pays employees. Wages paid in a month are generally deposited by the 15th of the next month for monthly depositors; semiweekly due dates depend on the payday. A $100,000 tax liability on any day triggers a next-business-day deposit.
This guide covers federal Form 941 deposits using IRS guidance current for 2026. State, local, and territorial payroll taxes have separate rules.
Which payroll taxes does this schedule cover?
The Form 941 deposit schedule generally covers federal income tax withheld from employees and the employer and employee shares of Social Security and Medicare taxes. The schedule follows when wages are paid, not when payroll expense or tax liability is accrued in accounting records. Assign liability to the period in which employees receive their wages.
Federal Unemployment Tax Act (FUTA) tax is separate: it is reported on Form 940 and does not use the Form 941 deposit schedule. State, local, and territorial tax deposits also require their own jurisdiction-specific rules.
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How do I know whether to deposit monthly or semiweekly?
For Form 941 filers, the IRS ordinarily determines the schedule using the four-quarter lookback period: July 1 of the second preceding year through June 30 of the prior year. For 2026, that period is July 1, 2024, through June 30, 2025. Add the employment taxes reported for that period and apply the threshold below.
| Lookback-period taxes reported | Deposit schedule | How the schedule works |
|---|---|---|
| $50,000 or less | Monthly | Deposit the tax on wages paid during each calendar month by the 15th of the following month. |
| More than $50,000 | Semiweekly | Deposit according to the payday-based Wednesday/Friday deadlines. |
The schedule is not the same as your payroll frequency. A business that pays employees weekly may still be a monthly depositor, and a semiweekly depositor does not necessarily run payroll twice a week. The IRS explains that the terms describe deposit schedules, not how often a business pays employees or how often it makes deposits: IRS Topic 757.
New employers generally begin as monthly depositors because their lookback-period taxes are zero. Special lookback treatment applies if the employer filed Form 944 in either of the two prior years or files Form 944 in the current year; consult the current Form 941 instructions for that situation.
When are payroll tax deposits due?
Monthly schedule
Deposit taxes on wages paid during a calendar month by the 15th day of the next month. If the 15th falls on a Saturday, Sunday, or legal holiday in the District of Columbia, the deadline moves to the next business day.
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Use the payday to choose the deadline:
| Wages paid on | Deposit due |
|---|---|
| Wednesday, Thursday, or Friday | The following Wednesday |
| Saturday, Sunday, Monday, or Tuesday | The following Friday |
If a required due date is not a business day, deposit on the next business day. A District of Columbia legal holiday among the three weekdays after a semiweekly period can provide an additional day for each such holiday. A state-only holiday does not extend a federal deposit deadline. For the current year’s dates and exceptions, use IRS Notice 931 and the applicable IRS calendar rather than relying on a prior-year example.
What happens if I owe $100,000 in payroll taxes?
If your tax liability reaches $100,000 or more on any day during a deposit period, deposit it by the next business day. Do not wait for the regular monthly or semiweekly deadline. For Form 941, reaching this threshold also makes you a semiweekly depositor for at least the remainder of that calendar year and the following calendar year. The IRS explains the rule in its Form 941 instructions.
How do I make a federal payroll tax deposit?
Federal employment-tax deposits must be made electronically. IRS-described options include an IRS business tax account, IRS Direct Pay for businesses, or the Electronic Federal Tax Payment System (EFTPS). Check the IRS instructions for the method you choose and confirm access is in place before a deadline approaches.
- Determine the amount and deadline. Use wage payment dates, your monthly or semiweekly schedule, and any $100,000 next-day liability to calculate the due date.
- Choose an electronic payment channel. Use an IRS business tax account, IRS Direct Pay for businesses, or EFTPS, as available to your business.
- Submit by the channel’s cutoff. To be timely through EFTPS, schedule the payment no later than 8 p.m. Eastern Time on the day before it is due.
- Keep confirmation and reconcile records. Retain payment confirmation and separately record the liability for the corresponding wage dates.
If an EFTPS payment was not scheduled in time, IRS instructions describe a same-day wire through the Federal Tax Collection Service. Arrange the wire with your financial institution in advance and verify its availability, cutoff, limits, and fees. IRS instructions say EFTPS can accept same-day payments up to $1 million if submitted before 3 p.m. Eastern Time on a business day; payments over $1 million must be submitted by 8 p.m. Eastern Time the prior day. These details are subject to the applicable IRS instructions and financial institution arrangements; see Form 941 instructions.
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What if the tax due is less than $2,500?
An eligible Form 941 filer may pay with a timely return instead of making deposits if the current-quarter or prior-quarter liability is less than $2,500 and no $100,000 next-day deposit obligation arose during the current quarter. If you are unsure whether current-quarter liability will stay below $2,500 and the prior quarter did not qualify, IRS guidance says to follow the monthly or semiweekly schedule to avoid failure-to-deposit penalties. Review the Form 941 instructions for the eligibility details.
How should I report liabilities on Form 941?
Deposit records and liability records serve different purposes. Monthly depositors report monthly tax liability on Form 941. Semiweekly depositors must also complete Schedule B (Form 941), listing tax liability for each day. Schedule B reports liabilities—not deposit dates or amounts—and the daily liabilities must reconcile to the tax total on the return. Assign each liability based on the date wages were paid, not the date payroll was accrued.
How is FUTA different?
FUTA is a separate federal employment tax reported on Form 940. IRS employment-tax guidance says a FUTA deposit is required for a quarter in which the tax due exceeds $500. That is a distinct threshold and obligation; do not apply the Form 941 monthly/semiweekly schedule to FUTA. See the IRS employment taxes overview for the separate rules.
Common deadline mistakes to avoid
- Choosing a deposit schedule based on weekly, biweekly, or monthly payroll frequency instead of the lookback-period tax amount.
- Using accrued liability dates rather than the dates wages were paid.
- Waiting for a regular due date after reaching the $100,000 next-day threshold.
- Assuming a state holiday extends a federal deposit deadline.
- Reporting only deposits on Schedule B instead of daily tax liability.
- Treating FUTA as part of Form 941 or applying its deposit threshold to FICA and withholding.
Because Form 944 status, prior penalties, unusual withholding, and multi-jurisdiction payroll can change the applicable requirements, consult the current IRS instructions or a qualified tax professional for employer-specific questions.
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