Pay periods

[DTS]

I just discovered that I included taxes for a pay period 8/20-9/02 on the 8109 for August. Not sure if this is correct or why I did this other than I was thinking the bulk of taxes incurred for this pay period was for most of August, except for a couple of days in September.

I should be OK with this? What is the proper way to do this, only include taxes for periods ending in a particular month?

Not much I can do at this point, but curious.

Dennis

[S T]

Deposit goes by Pay Dates

If your pay period was 8/20/06 - 9/2/06 with a pay date of 9/2/06 or later, then the 8109 deposit would be 3rd qtr. So for the quarter you should be okay. 3rd quarter form 941 and deposits would include any pay dates from July through the end of September.

Just make sure that you don't include pay date for the next quarter into the prior quarter. i.e. October pay date for September pay period. If issued in October, payroll deposit goes into the 4th quarter Oct-Dec, etc.

Sandy

[Uncle Sam]

Pay Periods

If you're business is required to pay payroll taxes semi-weekly, it does make a difference what dates you enter the payroll tax liability on Schedule B.
Whatever date your pay period ends, that's the date you should enter the appropriate tax liability.
For late penalty purposes, IRS assesses based on Payroll date + 4 days. So if the payroll date is the 15th of the month, enter the liability on the 15th. IRS will expect the tax to have been paid in by the 19th.

[DTS]

Thanks,

Sandy and Uncle Sam,

I was filling out the 8109 for September and thought back to the first part of the month and thought I should have included the pay date of the 2nd for September instead of August, like I did. The pay date was 9/02/06.

Thanks, again.
Dennis