The IRS assigns every employer a federal payroll tax deposit schedule — monthly or semiweekly — based on the taxes reported during a lookback period. This deposit schedule calculator determines your status from your Form 941 history. Enter the total federal employment taxes (income tax withheld + both halves of Social Security and Medicare) reported in your four lookback quarters to see whether you deposit monthly or semiweekly, and when the $100,000 next-day rule applies.
For a given calendar year, your deposit schedule is set by the lookback period — the four consecutive quarters ending on June 30 of the prior year. For the 2026 calendar year, that is July 1, 2024 through June 30, 2025. You add the total Form 941 taxes reported in those four quarters and compare to the threshold:
| Lookback total tax | Deposit schedule | When you deposit |
|---|---|---|
| $50,000 or less | Monthly | By the 15th of the next month |
| More than $50,000 | Semiweekly | Wed or Fri depending on payday |
"Total tax" means federal income tax withheld plus both the employee and employer shares of Social Security and Medicare — the Form 941 line 12 amount for each quarter.
Suppose your four lookback quarters reported $12,000, $12,000, $13,000, and $13,000:
If even one quarter had been $1 higher, the total would exceed $50,000 and you would become a semiweekly depositor for the year — the threshold is a hard line.
Monthly depositors deposit all taxes for a calendar month by the 15th of the next month. Semiweekly depositors follow paydays:
| Payday falls on | Deposit due |
|---|---|
| Wednesday, Thursday, or Friday | Following Wednesday |
| Saturday, Sunday, Monday, or Tuesday | Following Friday |
Semiweekly does not mean "twice a week" — it means deposits track each payday on this schedule. Deposits are made electronically through EFTPS.
Regardless of your schedule, if your accumulated tax liability reaches $100,000 on any single day, you must deposit it by the next business day. A monthly depositor who hits $100,000 in one day immediately becomes a semiweekly depositor for the rest of that year and the next. This rule catches growing businesses by surprise after a large bonus run or a spike in headcount, so watch any single-day total approaching six figures.
The IRS failure-to-deposit penalty escalates with how late you are:
| Days late | Penalty |
|---|---|
| 1-5 days | 2% |
| 6-15 days | 5% |
| 16+ days | 10% |
| 10+ days after IRS notice | 15% |
Because deposits include withheld employee taxes (trust-fund taxes), the IRS treats shortfalls seriously — the Trust Fund Recovery Penalty can reach responsible individuals personally. When in doubt, deposit early. New employers default to monthly until they have a full lookback history.
Add the total Form 941 taxes reported during your lookback period (the four quarters ending June 30 of the prior year). If the total is $50,000 or less, you are a monthly depositor; if it is more than $50,000, you are a semiweekly depositor for the current calendar year.
The lookback period is the 12 months made up of the four consecutive quarters ending on June 30 of the prior year. For calendar year 2026, the lookback period is July 1, 2024 through June 30, 2025. The total tax reported on Form 941 across those quarters sets your deposit schedule.
If your accumulated payroll tax liability reaches $100,000 on any single day, you must deposit it by the next business day. A monthly depositor who triggers this rule immediately becomes a semiweekly depositor for the rest of that year and the following year.
Monthly depositors must deposit all federal employment taxes for a calendar month by the 15th day of the following month. For example, taxes on January payrolls are due by February 15. Deposits are made electronically through EFTPS.
The IRS failure-to-deposit penalty is 2% for deposits 1-5 days late, 5% for 6-15 days, 10% for 16+ days, and 15% if not paid within 10 days of an IRS notice. Because deposits include withheld trust-fund taxes, responsible persons can also face the Trust Fund Recovery Penalty.