941 Deposits

[Super Mom]

I was talking to a friend at church, and she was telling me that her bookkeeper has told her that she has till the 26th of every month now instead of the 15th to make 941 deposits. My first response was that maybe EFTPS extends the due date, as all of mine are paper 8109 coupons. I told her I would check because she just recently paid a penalty for something and doesn't understand what. I have found that EFTPS is the same due date and I see nothing saying that monthly depositers are due on the 26th every month! Am I missing something?

[JohnH]

Just a wild guess, but maybe her quarterly total is less than $2,500. In that case, she isn't required to make monthly payments at all, but maybe the bookkeeper has set an arbitrary date near the end of the month just to keep her on a schedule of paying in the taxes monthly (without worrying about the 15th).

I have a client in that situation, but she considers the last day of each month as her deadline. I have told her what the rules are at some point in the past, but now I don't bother to correct her because she likes the financial discipline and I go along with what works for her. (I suspect if you asked her in a social setting, she would instinctively reply that she has to pay by the end of each month).

[Burke]

I was talking to a friend at church, and she was telling me that her bookkeeper has told her that she has till the 26th of every month now instead of the 15th to make 941 deposits. My first response was that maybe EFTPS extends the due date, as all of mine are paper 8109 coupons. I told her I would check because she just recently paid a penalty for something and doesn't understand what. I have found that EFTPS is the same due date and I see nothing saying that monthly depositers are due on the 26th every month! Am I missing something?

She may be referring to state income tax deposits. My state changed the monthly deposit date from the 31st to the 25th a year or two ago. Ask her for a copy of the penalty letter. That should explain it.