ITG FAQ #12 Answer-How are funds reported on Form 945 actually deposited?


If the total taxes for the year are less than $2,500, they are submitted with the timely filed return using Form 945-V PDF, Payment Voucher. There is an exception for taxes over $2,500 for monthly depositors who follow the Accuracy of Deposits rule found in section 11 of Publication 15 PDF,Circular E,Employer's Tax Guide. Otherwise, deposits are required to be made on a monthly or semi-weekly schedule or by electronic funds transfer using EFTPS: the Electronic Federal Tax Payment System.

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