What are semiweekly and monthly deposit schedules?

Employers must deposit payroll taxes based on a schedule determined by the IRS. This schedule depends on how much tax you reported during your “lookback period.” 

Semi-weekly Deposit Schedule: 

• If you reported more than $50,000 in employment taxes during the lookback period, you are a semi-weekly deposit scheduler. 

Monthly Deposit Schedule: 

• If you reported $50,000 or less in employment taxes during the lookback period, you are a monthly deposit scheduler. 
• Payments must be deposited by the 15th of the following month. 

Note: If you accumulate $100,000 or more in taxes in any deposit period, you must deposit the tax by the next business day, regardless of your schedule.