FederalPublished 09/02/2026 1 min read
Monthly or semiweekly? Your 2026 federal deposit schedule explained
The IRS decides your 941 deposit schedule from your lookback period. Miss it and penalties start at 2% the first day late.
How the IRS sets your schedule
Lookback period for 2026: July 1, 2024 – June 30, 2025.
Reported $50,000 or less in that window → monthly depositor (due the 15th of the following month).
More than $50,000 → semiweekly depositor (Wednesday or Friday after payday).
Accumulate $100,000 on any day → deposit by the next business day, and you become semiweekly for the rest of the year.
Penalties for late deposits
2% if 1–5 days late, 5% for 6–15 days, 10% after 15 days, 15% if still unpaid 10 days after the first IRS notice.
How RightPay handles it
Each client's schedule is stored in their tax profile and every impound batch is dated to the correct due date.
Overdue items show the estimated penalty and a one-click First-Time-Abate letter if something does slip.