What day are monthly 941 payments due?

By April 30, July 31, October 31, and January 31 (for the fourth quarter of the previous calendar year) File Form 941, Employer’s QUARTERLY Federal Tax Return. If you timely deposited all taxes when due, you have 10 additional calendar days to file the return.

When can you make an Eftps payment?

Payments must be scheduled at least one calendar day prior to the tax due date (before 8:00 p.m. ET). Remember, you can use EFTPS to make all federal tax payments and to review up to sixteen months of your tax payment history.

What is the penalty for late Eftps payment?

If your payment is between one and five days late, the IRS charges a penalty of 2 percent of the unpaid tax. Deposits made six to 15 days late are charged a 5 percent penalty. If your payment is more than 16 days late, the IRS will charge a 10 percent penalty.

How do I know when my IRS payment is due?

You can access your federal tax account through a secure login at IRS.gov/account. Once in your account, you can view the amount you owe along with details of your balance, view 18 months of payment history, access Get Transcript, and view key information from your current year tax return.

When is EFTPS required?

Electronic Federal Tax Payment System (EFTPS) is mandatory for all business tax payments, including payroll, beginning on January 1, 2011.

When to use EFTPS?

You can use EFTPS to pay and remit FICA, income, and federal unemployment tax liabilities. A payroll service can use your EFTPS account to pay taxes for you. Corporate taxes: If your business is is a corporation, you can use EFTPS to pay federal corporate taxes.

When are 941 payments due?

Form 941 is generally due by the last day of the month following the end of the quarter. For example, you’re required to file Form 941 by April 30 for wages you pay during the first quarter, January through March.

When are monthly payroll deposits due?

As a general rule, monthly payers are required to make deposits by the 15th of the month for the previous month’s taxes. So payroll taxes payable for the month of January would need to be deposited no later than February 15. Those deposits are reported quarterly.