Employment Taxes
- Withholding Taxes
- Social Security and Medicare Taxes
- Employer's Payroll Tax Liability
- State Employment Taxes
- Depositing Payroll Taxes
- Accuracy of Deposit Rule
- Employment Tax Payments With Return
- Federal Unemployment Tax (FUTA)
- Advance Earned Income Credit Payments
- Non-Employee Withholding Taxes
- Reporting Employment Taxes
- Household Employees
- Employment Tax Deposit Penalties
- Trust Fund Recovery Penalty
- Delinquent Employment Taxes
- Using a Payroll Service
More Tax Topics
- Business Structures
- Start-up Costs
- Depreciation
- Car Expenses
- Home Office Deduction
- Travel Expenses
- Hiring Workers
- Meals and Entertainment
- Retirement
- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Need Some Deductions for 2011?
Don't overlook these!
Updated for 2011
Depositing Employment Taxes
When an Insufficient Employment Tax Deposit May Not Cause a Penalty
You are required to deposit 100% of your employment tax liability on or before the deposit due date.
However, penalties will not be applied for depositing less the 100% if both of the following conditions are met:
- Any deposit shortfall does not exceed the greater of $100 or 2% of the amount of taxes otherwise required to be deposited and
- The deposit shortfall is paid or deposited by the shortfall makeup date described next
Makeup Date For Deposit Shortfall:
- Monthly schedule depositor.
- Deposit the shortfall or pay it with your return by the due date of your return for the return period in which the shortfall occurred.
- You may pay the shortfall with your return even if the amount is $2,500 or more.
- Semiweekly schedule depositor:
- Deposit by the earlier of:
- The first Wednesday or Friday (whichever comes first) that falls on or after the 15th of the month following the month in which the shortfall occurred or
- The due date of your return (for the return period of the tax liability).
- Deposit by the earlier of:
Related Links
- What Are Payroll Withholding Taxes
- Who Pays Social Security and Medicare Taxes?
- Social Security and Medicare Tax Rates
- Wage Base for Social Security Taxes
- Employer's Liability for Employment Taxes
- State Income Taxes
- State Unemployment Taxes (SUTA)
- Employer's SUTA Experience Rate
- Unemployment Insurance Claims
- Depositing Employment-Related Taxes
- Nonpayroll Tax Deposits
- When to Deposit Employment Taxes
- When To Determine Your Employment Tax Deposit Schedule
- How to Determine Your Employment Tax Deposit Schedule
- How to Deposit Employment Taxes
- Who Pays Federal Unemployment Taxes (FUTA)?
- FUTA Tax Deposits
- When You Can Pay FUTA Taxes Annually With Form 940
- Payments Exempt from FUTA Tax
- What Are Advance Earned Income Credit Payments?
- Withholding Taxes and Advance Earned Income Credit Payments
- Advance Earned Income Credit Payments Treated as Tax Deposits
- Reporting Advance Earned Income Payments
- Taxes Withheld From Income Distributions Not Related to Employment
- Depositing Payroll Taxes versus Reporting Payroll Taxes
- Employment Tax Forms
- Employment Tax Forms Explained
- Zero Wage Return
- Schedule H, Household Employment Taxes
- Taxes Reported on Schedule H
- Schedule H and Form 1040
- Filing Extension and Schedule H
- Filing Schedule H When You're Not Required to File a Tax Return
- Federal Income Taxes for Household Employees
- IRS Employment Tax Penalty Refund Offer
- Employment Tax Deposit Penalties
- Order in Which Employment Tax Deposits Are Applied
- What Are Trust Fund Taxes?
- How the Trust Fund Recovery Penalty is Assessed
- Who is Responsible For the Trust Fund Recovery Penalty?
- What Should You Pay First-Debts to Business Creditors or Taxes?
- Paying Past Due Taxes
- Advantages of Using a Payroll Service
- Your Role When Using a Payroll Service
- What a Payroll Service Does
- State New Hire Registry
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