Expert: Arthur Naman - 12/18/2009

Question
QUESTION: If I "PAY" Federal 941 taxes quarterly, do I pay tax on the 15th or the last day of the month following the tax quarter?  Thanks

ANSWER: The payment of payroll taxes is different from the filing of the quarterly tax returns. The question of when to pay is based on the amount of the payroll taxes.

If you only need to pay quarterly, at the time the quarterly return is filed, then payment is due at the end of the month along with the return.

If you do not follow my comment about when the payment is due, please ask a follow-up after you have read the payment requirements of the 941p.

---------- FOLLOW-UP ----------

QUESTION: If the quarterly amount of tax due is under $2500, then I can pay with the form filing at the end of the month?  Is that correct?

Answer
First, I would refer you to IRS Pub 15, please see the index at "When To
Deposit."

Also see "When Must You Deposit Your Taxes" in the instructions for IRS form
941.

With that said, you are probably correct, that up to $2,500 can be paid with the form. As I am not aware of your prior history regarding payroll and payroll taxes, I cannot state definitively the deposit can be made with the return.