I just wrote a blog post about this question – Can I pay employment taxes with my quarterly employer tax return? Plus, debunking some ideas about payroll. This is one of the myths. Read the entire blog post, but here’s my answer to this question.
- FICA: If your total FICA tax liability does not exceed $2500.00, you can pay those taxes quarterly with your 941 filings.
- 944 Filer: If you are a 944 filer and your liabilities, don’t exceed $2500.00 for the year you can make payment with your 944 filings.
- Liabilities: If your liabilities exceed $2500.00 in any quarter, you become a monthly depositor with deposits due by the 15th of the following month.
- Payroll Taxes: If your payroll taxes exceed $50,000 per year in the look-back period or ever exceed $100,000.00 in a period, then you become what is called a semi-weekly depositor and must deposit far more often.
- Deposits: In any deposit period your liability exceeds $100,000.00, liabilities must be deposited the next business day.
- See Circular E-Publication 15 from the IRS for exact details on these two paragraphs. They take several pages in the publication to cover the details.