Payroll Tax Due Dates: Never Miss a Deadline

Payroll tax penalties are some of the most avoidable business expenses there are. The IRS charges 2-15% of the unpaid amount depending on how late you are — and “I didn’t know when it was due” is not a defense. A calendar you check regularly is the only tool you need.

Here’s how to build one that covers all the key federal dates, with room for your state obligations.

The Federal Payroll Tax Obligation Overview

When you have employees, you have three main categories of federal payroll tax obligations:

941 Deposits: The withholding you collect from employees (federal income tax, employee Social Security, employee Medicare) plus employer Social Security and Medicare. This money needs to be deposited with the IRS — not just set aside internally.

Federal Unemployment (FUTA) Deposits: Employer-only. You owe 6% on the first $7,000 per employee per year (usually reduced to 0.6% after state unemployment tax credit). Deposit quarterly if over $500.

Filed Returns: The 941 (quarterly), 940 (annual), W-2s and W-3 (annual), and any corrections.

Deposit Schedules for 941

Your deposit frequency depends on your total payroll tax liability during a “lookback period” (the 12-month period ending June 30 of the prior year):

Monthly Depositor: You deposited $50,000 or less during the lookback period.

• Deposit rule: all employment taxes for a calendar month are due by the 15th of the following month
• Example: taxes from January payroll → deposit by February 15

Semi-Weekly Depositor: You deposited more than $50,000 during the lookback period.

• Deposit rule: payday on Wed/Thu/Fri → deposit by the following Wednesday
• Payday on Sat/Sun/Mon/Tue → deposit by the following Friday
• One-day rule: if you accumulate $100,000 in a single day, you must deposit the next business day

New employers start as monthly depositors.

The Master Calendar Template

Set up a spreadsheet with these columns:

Due Date	Obligation	Form/Action	Frequency	Status	Notes
Jan 15	941 deposit (Dec)	EFTPS payment	Monthly		If monthly depositor
Jan 31	Form 941 (Q4)	IRS.gov	Quarterly		Or Feb 10 if all taxes deposited on time
Jan 31	Form 940 (Annual FUTA)	IRS.gov	Annual
Jan 31	W-2s to employees	Mail/deliver	Annual
Jan 31	W-3 + W-2s to SSA	SSA.gov	Annual
Feb 15	941 deposit (Jan)	EFTPS payment	Monthly
Mar 17	941 deposit (Feb)	EFTPS payment	Monthly		(adjusted for weekend)
Apr 15	941 deposit (Mar)	EFTPS payment	Monthly
Apr 30	Form 941 (Q1)	IRS.gov	Quarterly
Apr 30	FUTA deposit (Q1, if over $500)	EFTPS payment	Quarterly
…	…	…	…

Add conditional formatting: turn rows red when Status is blank and Due Date is within 14 days. Filter by “upcoming” or “not done” to see your action list.

Full Annual Federal Calendar

January:

• Jan 15: Monthly 941 deposit (for December)
• Jan 31: Form 941 for Q4; Form 940 (FUTA); W-2s to employees; W-3 + Copy A W-2s to SSA

February:

• Feb 15: Monthly 941 deposit (for January)

March:

• Mar 15: Monthly 941 deposit (for February)

April:

• Apr 15: Monthly 941 deposit (for March)
• Apr 30: Form 941 for Q1; FUTA deposit if Q1 liability exceeds $500

May:

• May 15: Monthly 941 deposit (for April)

June:

• Jun 16: Monthly 941 deposit (for May)

July:

• Jul 15: Monthly 941 deposit (for June)
• Jul 31: Form 941 for Q2; FUTA deposit if cumulative liability exceeds $500

August:

• Aug 15: Monthly 941 deposit (for July)

September:

• Sep 15: Monthly 941 deposit (for August)

October:

• Oct 15: Monthly 941 deposit (for September)
• Oct 31: Form 941 for Q3; FUTA deposit if cumulative liability exceeds $500

November:

• Nov 17: Monthly 941 deposit (for October)

December:

• Dec 15: Monthly 941 deposit (for November)

Note: Dates falling on weekends or federal holidays shift to the next business day. Check IRS.gov for the exact calendar year adjustments.

Making 941 Deposits

All 941 deposits must be made via the Electronic Federal Tax Payment System (EFTPS) at eftps.gov. If you’re not enrolled, enroll now — the IRS takes 5-7 business days to mail your PIN.

Payment process:

1. Log in to EFTPS
2. Select “Federal Tax Deposit”
3. Enter tax period and year
4. Enter amounts: federal income tax withheld, Social Security (employee + employer combined), Medicare (employee + employer combined)
5. Schedule the payment for the due date or before

Set a calendar reminder 3 days before each deposit due date to calculate amounts and initiate the payment.

State Payroll Tax Calendar

Most states have their own withholding deposit and filing requirements. They vary significantly. Your state tax agency website (search “[State] employer withholding guide”) will have the schedule. Common patterns:

• Monthly deposits with quarterly reconciliation filings
• Quarterly deposits and filings for small employers
• Semi-weekly deposits for large employers

Add a separate section in your calendar tab for state obligations. Columns:

• State
• Obligation (withholding deposit, unemployment deposit, quarterly reconciliation)
• Due Date
• Status

Penalties for Missing Deadlines

Don’t skip this section — understanding the stakes makes you check the calendar more carefully.

Late 941 deposits:

• 1-5 days late: 2% of unpaid amount
• 6-15 days late: 5%
• 16+ days late: 10%
• 10+ days after first IRS notice: 15%

Late 941 filing (separate from the deposit): 5% of unpaid tax per month, up to 25%.

Failure to file W-2s by January 31: $60-$310 per form depending on how late.

Trust fund penalty: If you collect employee withholding and don’t deposit it, the IRS can personally assess the full unpaid amount against any “responsible person” in the business — including you, even if the business is an LLC or corporation. This one bypasses the corporate shield entirely.

Next Step

Open your calendar app and add recurring reminders for every due date above. For each 941 deposit date, set a reminder 3 business days in advance to calculate and initiate the payment. Enroll in EFTPS today if you haven’t already. Then build the spreadsheet calendar as your backup reference. Payroll tax penalties are purely avoidable — the only excuse for paying them is not having a system.