When To Deposit

There are two deposit schedules—monthly and semiweekly—for determining when you deposit social security, Medicare, and withheld federal income taxes. These schedules tell you when a deposit is due after a tax liability arises. Your tax liability is based on the dates payments were made or wages were paid. For taxable noncash fringe benefits, see When taxable fringe benefits are treated as paid in section 5. Before the beginning of each calendar year, you must determine which of the two deposit schedules you’re required to use. The deposit schedule you must use is based on the total tax liability you reported on Forms 941, line 12; Form 943, line 13; Form 944, line 9; or Form 945, line 3, during a lookback period, discussed next. Your deposit schedule isn’t determined by how often you pay your employees or make deposits. See special rules for Form 943, Form 944, and Form 945, later in this section. Also see Application of Monthly and Semiweekly Schedules , later in this section.