Department of the Treasury
Internal Revenue Service
(Rev. November 2009)
begins July 1 and ends June 30 as shown in the following chart. If
Deposit Requirements for Employment
you reported $50,000 or less of Form 941 taxes for the lookback
period, you are a monthly schedule depositor; if you reported more
than $50,000, you are a semiweekly schedule depositor. The
There are two deposit schedules—monthly or semiweekly—for
lookback period for a 2010 Form 941 filer who filed Form 944 in
determining when you deposit social security and Medicare taxes
either 2008 or 2009 is calendar year 2008.
and withheld federal income tax. These schedules tell you when a
deposit is due after a tax liability arises (for example, when you
Form 941 Lookback Period for Calendar Year 2010
have a payday). Before the beginning of each calendar year, you
must determine which of the two deposit schedules you must use.
The deposit schedule you must use is based on the total tax
liability you reported during a lookback period. Your deposit
schedule is not determined by how often you pay your employees
or make deposits. See Application of Monthly and Semiweekly
thru Sept. thru Dec. thru Mar.
Schedules on page 2.
These rules do not apply to federal unemployment (FUTA) tax.
See the Instructions for Form 940 for information on depositing
Instead of making deposits during the current
Lookback period for annual returns. For annual returns (Form
quarter, you can pay your total Form 941 tax liability when you
943, Form 944, Form 945, and Form CT-1), the lookback period is
timely file Form 941 if:
the calendar year preceding the previous year. For example, the
lookback period for 2010 is 2008.
• Your total Form 941 tax liability for either the current quarter or
the preceding quarter is less than $2,500 and
Monthly Deposit Schedule
• You do not incur a $100,000 next-day deposit obligation during
You are a