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Next Day deposit frequency

Some tax agencies require that, if you accumulate a tax liability over a certain amount on any day during a deposit period, you must deposit the payment by the next banking day, regardless of your current deposit frequency schedule. For example, if you're currently set up as a federal monthly depositor and accumulate over $100,000 in federal tax liability, you must deposit the payment for this tax liability by the next banking day.

QuickBooks does not support Next Day as a deposit frequency for your federal scheduled tax payments because the payment must be settled by the due date (the next banking day). Since QuickBooks includes Intuit's processing time when calculating the Send By date in the Payroll Center, Intuit wouldn't be able to ensure timely payment for your federal next day deposits. 

You can, however, set up certain state scheduled tax payments with a Next Day deposit frequency. For example, if you're a California employer that meets the state's next day deposit requirements, you must make the payment by the next banking day. If you make the payment through an EFT transaction, however, then the payment must settled with the state agency on or before three days after the payroll date. When you set up scheduled tax payments with the Next Day deposit frequency for your California payroll taxes, QuickBooks includes the appropriate amount of processing time when calculating the due date.

If you want to set up your scheduled tax payments with a Next Day deposit frequency simply because you want a reminder to pay your liabilities any time they accrue, you can manually pay your scheduled taxes payments after every payroll run.

For information about the federal or your state agency's requirements and guidelines about deposit frequencies, visit the Go onlinePayroll Tax Compliance page and select your federal agency or state.

See also

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