Jump directly to the content

Tax CalendarTax Calendar

Important deadlines for churches and ministers
Semiweekly requirements, September/October 2017
PAGE 1 of 1

If your church or organization reported withheld taxes of more than $50,000 during the most recent lookback period (for 2017 the lookback period is July 1, 2015, through June 30, 2016), the withheld payroll taxes are deposited semiweekly. This means that for paydays falling on Wednesday, Thursday, or Friday, the payroll taxes must be deposited on or by the following Wednesday. For all other paydays, the payroll taxes must be deposited on the Friday following the payday. Note further, large employers having withheld taxes of $100,000 or more at the end of any day must deposit the taxes by the next banking day. The deposit days are based on the timing of the employer’s payroll. Withheld taxes include federal income taxes withheld from employee wages, the employee’s share of Social Security and Medicare taxes and the employer’s share of Social Security and Medicare taxes.

Note: If a date listed for filing a return or making a tax payment falls on a Saturday, Sunday, or legal holiday (either national or statewide in a state where the return is required to be filed), the return or tax payment is due on the following business day.

Note: You must use electronic funds transfer to make all federal employment tax deposits. This is generally done using the Electronic Federal Tax Payment System, a free service provided by the U.S. Department of Treasury. If you don't wish to use EFTPS, you can arrange for your tax professional, financial institution, or payroll service to make deposits on your behalf. Failure to make a timely deposit may subject you to a 10-percent penalty.

This content is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. "From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations."

Due to the nature of the U.S. legal system, laws and regulations constantly change. The editors encourage readers to carefully search the site for all content related to the topic of interest and consult qualified local counsel to verify the status of specific statutes, laws, regulations, and precedential court holdings.

Subscribe

If you found this article helpful, subscribe to ChurchLawAndTax.com for access to more articles like this one.

View All
from our store
2018 Church & Clergy Tax Guide

2018 Church & Clergy Tax Guide

Find comprehensive help understanding United States tax laws as they relate to pastors and churches.
Politics and the Church

Politics and the Church

Tax and legal guidelines faith-based organizations need to know before jumping into the political fray.
Church Finance

Church Finance

Learn about budgeting, financial reporting, tax compliance, insurance coverage, and more
20 Finance Questions Churches Ask

20 Finance Questions Churches Ask

Richard Hammar shares his answers to 20 of the most widely asked and relevant tax and finance questions for church leaders.