Publication 5258 - Federal Tax Deposits Page 14
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32The ABCs of Federal Tax Deposits
remember!
1.
Deposits can be made anytime from payday through the deposit due date.
2.
Deposit rules are based on when wages are paid, not earned. (For example, a
monthly schedule depositor with wages earned in June but paid in July, must
deposit by August 15.)
The terms “monthly schedule depositor” and “semiweekly schedule deposi-
3.
tor”:
» do refer to which set of rules you should follow to make deposits, but
» don’t refer to how often you pay wages, or make deposits.
A monthly schedule depositor deposits taxes from all paydays in a month by
4.
the 15th of the next month, even if they pay wages every week.
A semiweekly schedule depositor deposits taxes by the Wednesday or Friday
5.
following payday, even if they pay wages only once a month.
6.
deposit periods—period of time that undeposited taxes are accumulated for
payment to the United States Treasury:
» Calendar month for monthly schedule depositors;
» Wednesday through Friday, or Saturday through Tuesday for semiweekly
schedule depositors.
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