We can waive federal tax deposit penalties for the first time you file a specific tax form. Our records show that this is the first time you filed this form, so we won't charge a penalty.
What you need to do
- Deposit the correct amount of tax by the due date.
- First time filers are monthly depositors, unless their tax liability reaches $100,000 in a month. In that case, they must deposit the next day, and follow the semi-weekly deposit schedule for the rest of the year and the next year.
- Monthly taxpayers must deposit by the 15th of the following month, unless that is a weekend or holiday in the District of Columbia. In that case, the deposit is due the next business day.
- Semi-weekly depositors must deposit by the next Wednesday if they pay their employees on Wednesday, Thursday, or Friday. If they pay on Saturday, Sunday, Monday, or Tuesday, the deposit is due by the following Friday. If there is a holiday after the liability period, the due date is extended one business day. For example, if payday is Thursday, and the following Monday is a holiday, the deposit due date is extended to Thursday.
- You must deposit electronically through the Electronic Federal Tax Payment System (EFTPS) unless your tax is under $2,500. If the tax is under $2,500, you may pay with the tax return.
You may want to
- Review your records to determine what payments were late or not filed electronically.
- For more information, visit the EFTPS website.
Frequently asked questions
Do I need to contact you about the late deposits?
We did not charge a penalty. You do not need to contact us, even if a late deposit was not your fault.
I can’t tell what payments were late.
Call us at 800-829-0115 and we can review your account with you. Since we did not charge a penalty, you don’t need to call.
How do you determine whether to deposit monthly or semi-weekly?
If the taxes on your original tax return in the “lookback period” are more than $50,000, you must follow the semi-weekly deposit schedule the next year. If your taxes are $50,000 or less, you must follow the monthly deposit schedule. For annual tax returns, the lookback period is the second previous year. For example, the lookback period for 2017 is 2015. For Form 941, the lookback period is the four quarterly returns ending on June 30 of the previous year.
If our records show that your deposit requirements will change for the next year, we send a notice in November.
Tips for next year
Determine your deposit requirements every year, whether or not you receive a notice.
- Publication 15 (Circular E), Employer’s Tax Guide (For Forms 941, 944, 945) (PDF)
- Publication 51 (Circular A), Agricultural Employer’s Tax Guide (For Form 943) (PDF)
- Form 941, Employer's Quarterly Federal Tax Return (PDF) and Instructions (PDF)
- Form 943, Employer’s Annual Federal Tax Return for Agricultural Employees (PDF) and Instructions (PDF)
- Form 944, Employer’s ANNUAL Federal Tax Return (PDF) and Instructions (PDF)
- Form 945, Annual Return of Withheld Federal Income Tax (PDF) and Instructions (PDF)
- Full list of tax forms and instructions