How, when and where do I pay and report all these taxes to the IRS?
| Social Security and Federal Withholding Tax Deposits |
| Generally, employers report Social Security, Medicare and Federal Income tax on Form 941, Employer's Quarterly Federal Tax Return. There are several exceptions to this rule: |
| Agricultural employers file an Annual Form 943 |
| Annual Form 945 is used to report non-payroll items such as backup withholding, gambling income and pension distributions |
| Employers of household workers file a Schedule H form with their personal Form 1040 |
All payroll tax returns are due on the last day of the month following the end of the period. The period is either a calendar quarter (941) or a calendar year (945 & 943).
Household employers must file Schedule H by the due date of their personal tax return. However, states still require quarterly unemployment returns, state income tax returns and regular new hire reporting.
The quarter- and year-ending dates do not change, so their fiscal year does not affect due dates. The quarter-ending dates are as follows:
First |
March 31 |
April 30 |
Second |
June 30 |
August 1 |
Third |
September 30 |
October 31 |
Fourth |
December 31 |
January 31 |
Deposits for income tax and social security tax are made periodically over the course of the year based on a filing frequency assigned by the Internal Revenue Service.
Filing frequencies are monthly or semi-weekly, and although assigned by the IRS, they may change without notice if certain threshhold amounts are exceeded. Employers are also responsible for making a deposit within 24 hours if their tax liability within the deposit period or any single day exceeds $100,000.
Employers must be within 98% accuracy when making deposits, which they may be required to make electronically depending on requirements that are based on certain threshold amounts.
All employers are provided with a coupon booklet to make their payments. These payment coupons (Forms 8109) should be completed per the instructions and taken to an authorized financial institution (usually any commercial bank), along with the full amount for taxes.
It is critical to complete these forms accurately, since the IRS uses them to credit employers' accounts for payment of their taxes.
Request assistance from the nearest IRS office if a booklet is not available when it is time to make a deposit.
If employers are required to make payments electronically, this must be done via the Electronic Federal Tax Payment System. Payments must be initiated at least one business day prior to due date, and employers must be registered in EFTPS.
Call 1-800-945-8400 or 1-800-555-4477 to receive an Enrollment Packet or to ask questions about EFTPS.
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