Application of Monthly and Semiweekly Schedules

The terms “monthly schedule depositor” and “semiweekly schedule depositor” don’t refer to how often your business pays its employees or even how often you’re required to make deposits. The terms identify which set of deposit rules you must follow when an employment tax liability arises. The deposit rules are based on the dates when wages are paid (cash basis), not on when tax liabilities are accrued for accounting purposes.

Monthly schedule example.

Spruce Co. is a monthly schedule depositor with seasonal employees. It paid wages each Friday during March but didn’t pay any wages during April. Under the monthly deposit schedule, Spruce Co. must deposit the combined tax liabilities for the March paydays by April 15. Spruce Co. doesn’t have a deposit requirement for April (due by May 15) because no wages were paid and, therefore, it didn’t have a tax liability for April.

Semiweekly schedule example.

Green, Inc., is a semiweekly schedule depositor and pays wages once each month on the last Friday of the month. Although Green, Inc., has a semiweekly deposit schedule, it will deposit just once a month because it pays wages only once a month. The deposit, however, will be made under the semiweekly deposit schedule as follows: Green, Inc.’s tax liability for the May 29, 2026 (Friday), payday must be deposited by June 3, 2026 (Wednesday). Under the semiweekly deposit schedule, liabilities for wages paid on Wednesday through Friday must be deposited by the following Wednesday.