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Semiweekly deposit frequency

Scheduled payments set up with a semiweekly deposit frequency are typically due on a specified day of the weekly that follows the prior period's 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 semiweekly depositor if you accrue between $50,000 and $100,000 in total tax liability during the deposit period. As a semiweekly depositor, you typically deposit your payment on Friday for payroll taxes accrued on Saturday, Sunday, Monday, or Tuesday; and on Wednesday for payroll taxes accrued on Wednesday, Thursday, or Friday. When you set up your scheduled tax payments with a semiweekly 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, visit the Go onlinePayroll Tax Compliance page and select your federal agency or state.

See also

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