Payroll Tax Schedules For Different Forms Of Employers

Different types of businesses will generally have a different payroll tax schedule for when they need to file and pay their payroll taxes to the Internal Revenue Service (IRS). The schedule for reporting and paying federal payroll taxes to the IRS will generally depend upon the size of the business, the number of employees and the amount of tax liability.

How Payroll Tax Schedules Differ

The majority of small businesses will be required to pay federal payroll taxes once a month. For most small businesses, federal payroll taxes are reported on IRS Form 941 and must be filed and paid by the 15th the day of the month following the month when wages were played paid to the employee(s). In some circumstances, large employers that have payroll tax obligations of between $50,000 and $100,000 are usually required to file and pay trust fund payroll taxes within one to three days following a payday.

Many very small businesses that have only one or two employees may be able to avoid regular filing and payment requirements. For instance, if you have a domestic helper or nanny in your home, and you withhold less than $1000 in annual federal payroll taxes, you may be eligible to use IRS Form 944 and make your payroll tax payments once a year. Ask your accountant for more information about IRS payroll tax filing requirements.