Scheduled payments set up with a monthly deposit frequency are typically due on a specified day of the month that follows the prior month's tax liabilities. The deposit period and due date are determined by the rules and guidelines enforced by the agency.
For example, the IRS may consider you a monthly depositor for the first year of business that you have employees or if you accrue less than $50,000 total tax liability during the deposit period. As a monthly depositor, you typically deposit your payment on the 15th of the month for payroll taxes accrued during the prior month. When you set up your scheduled tax payments with a monthly deposit frequency, QuickBooks uses the agency guidelines to calculate the due date along with the accrued amounts in the Payroll Center.
What if the due date falls on a non-banking day?
If the due date for a payroll tax payment falls on a non-banking day, such as a weekend or a holiday, most agencies consider the payment timely if it's settled on the next banking day. However, different agencies can have different guidelines for settlement dates and may observe additional holidays as non-banking days. QuickBooks typically adjusts the date according to the agency's guidelines.
For information about the federal or your state agency's requirements and guidelines about deposit frequencies, visit the Payroll Tax Compliance page and select your federal agency or state.
About deposit schedules and frequencies
Federal payroll tax deadlines and other important dates