Example of Monthly and Semiweekly Schedules
Rose Co. reported Form 941 taxes as follows.
2025 Lookback period 2026 Lookback period 3rd Quarter 2023 $12,000 3rd Quarter 2024 $12,000 4th Quarter 2023 12,000 4th Quarter 2024 12,000 1st Quarter 2024 12,000 1st Quarter 2025 12,000 2nd Quarter 2024 12,000 2nd Quarter 2025 15,000 $48,000 $51,000
Rose Co. is a monthly schedule depositor for 2025 because its tax liability for the 4 quarters in its lookback period (third quarter 2023 through second quarter 2024) wasn’t more than $50,000. However, for 2026, Rose Co. will be a semiweekly schedule depositor because the total taxes exceeded $50,000 for the 4 quarters in its lookback period (third quarter 2024 through second quarter 2025).
Example for employers of farmworkers.
Red Co. reported taxes on its 2024 Form 943, line 13, of $48,000. On its 2025 Form 943, line 13, it reported taxes of $60,000.
Red Co. is a monthly schedule depositor for 2026 because its taxes for its lookback period ($48,000 for calendar year 2024) weren’t more than $50,000. However, for 2027, Red Co. will be a semiweekly schedule depositor because the total taxes for its lookback period ($60,000 for calendar year 2025) exceeded $50,000.