Payment Methods

You may make payments one of three ways:

• The IRS will send you a yellow booklet containing coupons. Fill one out, and take a check to your bank. Be sure to fill out the top stub of the coupon for your records.
• Use the Electronic Federal Tax Payment System. Visit www.eftps.com for more information and to sign up. Allow about two weeks for the enrollment process to complete. Other types of taxes can be paid as well, using this syst
  How A Mail Forwarding Service Can Increase Your Customer Base
  Are you a small or medium sized business that is struggling to survive? If so, where is your business located? Each year, millions of small to medium sized business owners experience business debt and end up seeing their dreams fail. The majority of the time, the business concept was right on, but location was the problem. Yes, the location. If you are trying to operate a business, but you are loc
  Many business owners don’t realize how important it is to get payroll tax payments made on time. If a late payment is made, once the IRS catches up to it, the penalties are quite stiff: 10% off the top, plus interest. Try earning that at a bank today! Resist the temptation to pay late, because it’s not a money saver, it’s a money loser. Plus, penalties are not deductible.

  Quick Tip: the IRS uses the term “tax deposit” to mean “tax payment”, and uses the term “monthly depositor” or “semi-weekly depositor” to mean “monthly payer” or “semi-weekly payer”, respectively.

  Determine Your Payment Schedule

  Before you can determine when the tax payment is due, you must first determine if you are a monthly depositor, or a semi-weekly depositor. Which type you are has nothing to do with when or how often you pay your employees. In order to determine which schedule you are on, examine the payroll records during the “lookback period”. This period always runs from July 1 to June 30. For 2006, the “lookback period” runs from July 1, 2004 – June 30, 2005. If the amount you withheld for 941 taxes is $50,000 or less, you are a monthly depositor. If the amount during that period is more than $50,000, you are a semi-weekly depositor.

  Monthly Depositor

  If you are a monthly depositor, you will pay the taxes by the 15th of the next month. For example, for 941 taxes withheld during August 2006, the payment was due on Friday, September 15. If the 15th falls on a weekend or Federal holiday, the payment is due the next business day.

  Semi-Weekly Depositor

  • If the payday falls on a Wednesday, Thursday, and/or Friday, the deposit is due on or before the following Wednesday.
  • If the payday falls on a Saturday, Sunday, Monday, and/or Tuesday, the deposit is due on or before the following Friday.

  The $100,000 Rule

  Regardless of which type of depositor you are, if 941 withholdings reach $100,000 or more, a payment is due the next business day, and the semi-weekly deposit rules are in effect going forward.

  Payment Methods

  You may make payments one of three ways:

  • The IRS will send you a yellow booklet containing coupons. Fill one out, and take a check to your bank. Be sure to fill out the top stub of the coupon for your records.
  • Use the Electronic Federal Tax Payment System. Visit www.eftps.com for more information and to sign up. Allow about two weeks for the enrollment process to complete. Other types of taxes can be paid as well, using this syste
    Tap Into The Power of Saavy Address Labels
    There are few clerical products as time saving as address labels. For any project, these little marvels add professionalism without sacrificing efficiency. Address labels are by far one of the most effective supplies when it comes to the office.When you arrive at the office supply store you may become overwhelmed at the options available when it comes to address labels. While it would seem th
    o mean “monthly payer” or “semi-weekly payer”, respectively.

    Determine Your Payment Schedule

    Before you can determine when the tax payment is due, you must first determine if you are a monthly depositor, or a semi-weekly depositor. Which type you are has nothing to do with when or how often you pay your employees. In order to determine which schedule you are on, examine the payroll records during the “lookback period”. This period always runs from July 1 to June 30. For 2006, the “lookback period” runs from July 1, 2004 – June 30, 2005. If the amount you withheld for 941 taxes is $50,000 or less, you are a monthly depositor. If the amount during that period is more than $50,000, you are a semi-weekly depositor.

    Monthly Depositor

    If you are a monthly depositor, you will pay the taxes by the 15th of the next month. For example, for 941 taxes withheld during August 2006, the payment was due on Friday, September 15. If the 15th falls on a weekend or Federal holiday, the payment is due the next business day.

    Semi-Weekly Depositor

    • If the payday falls on a Wednesday, Thursday, and/or Friday, the deposit is due on or before the following Wednesday.
    • If the payday falls on a Saturday, Sunday, Monday, and/or Tuesday, the deposit is due on or before the following Friday.

    The $100,000 Rule

    Regardless of which type of depositor you are, if 941 withholdings reach $100,000 or more, a payment is due the next business day, and the semi-weekly deposit rules are in effect going forward.

    Payment Methods

    You may make payments one of three ways:

    • The IRS will send you a yellow booklet containing coupons. Fill one out, and take a check to your bank. Be sure to fill out the top stub of the coupon for your records.
    • Use the Electronic Federal Tax Payment System. Visit www.eftps.com for more information and to sign up. Allow about two weeks for the enrollment process to complete. Other types of taxes can be paid as well, using this syst
      Warehousing Logistics
      Warehousing logistics implies the physical distribution of a warehouse. In the US, there are many companies that deal in warehousing, as well as delivery. These companies are committed to providing value based warehouse solutions that are tailored to the specific supply of chain processes. These companies are able to transform the warehouse from a cost center, into a source of value that benefits the o
      iod” runs from July 1, 2004 – June 30, 2005. If the amount you withheld for 941 taxes is $50,000 or less, you are a monthly depositor. If the amount during that period is more than $50,000, you are a semi-weekly depositor.

      Monthly Depositor

      If you are a monthly depositor, you will pay the taxes by the 15th of the next month. For example, for 941 taxes withheld during August 2006, the payment was due on Friday, September 15. If the 15th falls on a weekend or Federal holiday, the payment is due the next business day.

      Semi-Weekly Depositor

      • If the payday falls on a Wednesday, Thursday, and/or Friday, the deposit is due on or before the following Wednesday.
      • If the payday falls on a Saturday, Sunday, Monday, and/or Tuesday, the deposit is due on or before the following Friday.

      The $100,000 Rule

      Regardless of which type of depositor you are, if 941 withholdings reach $100,000 or more, a payment is due the next business day, and the semi-weekly deposit rules are in effect going forward.

      Payment Methods

      You may make payments one of three ways:

      • The IRS will send you a yellow booklet containing coupons. Fill one out, and take a check to your bank. Be sure to fill out the top stub of the coupon for your records.
      • Use the Electronic Federal Tax Payment System. Visit www.eftps.com for more information and to sign up. Allow about two weeks for the enrollment process to complete. Other types of taxes can be paid as well, using this syst
        Why Accountants Make Good Clients
        If you’ve read any of my other marketing articles you’ll know that I believe that one of the key foundations of a strong business is to have “good clients”. From a small business perspective Accountants come high on my list of the type of companies who make good clients.So, what it it about accountants that tends to make them good clients? Before I get in to the positives, let me just mention th
        next business day.

        Semi-Weekly Depositor

        • If the payday falls on a Wednesday, Thursday, and/or Friday, the deposit is due on or before the following Wednesday.
        • If the payday falls on a Saturday, Sunday, Monday, and/or Tuesday, the deposit is due on or before the following Friday.

        The $100,000 Rule

        Regardless of which type of depositor you are, if 941 withholdings reach $100,000 or more, a payment is due the next business day, and the semi-weekly deposit rules are in effect going forward.

        Payment Methods

        You may make payments one of three ways:

        • The IRS will send you a yellow booklet containing coupons. Fill one out, and take a check to your bank. Be sure to fill out the top stub of the coupon for your records.
        • Use the Electronic Federal Tax Payment System. Visit www.eftps.com for more information and to sign up. Allow about two weeks for the enrollment process to complete. Other types of taxes can be paid as well, using this syst
          How to Save Your Company with Preventative Service Maintenance
          When computers or networks go down, a company is out of business. This is a simple fact of life in the current business environment. For most small businesses, being out of business for a day can work havoc on the bottom line. Most small businesses operate on tight budgets and need every sale. Being out of business for several days can mean the difference between business survival and complete disas
          les are in effect going forward.

          Payment Methods

          You may make payments one of three ways:

          • The IRS will send you a yellow booklet containing coupons. Fill one out, and take a check to your bank. Be sure to fill out the top stub of the coupon for your records.
          • Use the Electronic Federal Tax Payment System. Visit www.eftps.com for more information and to sign up. Allow about two weeks for the enrollment process to complete. Other types of taxes can be paid as well, using this system.
          • Find a payroll provider who offers electronic payment of employment taxes, and enroll in that service.

          Avoid Costly Penalties

          • Don’t pay late
          • Pay using the correct method
          • Pay the correct amount

          These guidelines are for Federal 941 payments only, and are intended for small businesses who have under $100,000 in Federal 941 payroll liabilities. See the Instructions for Form 941, and Circular E, for more detail and information.