Fund collection for bonus payroll

The funds to cover bonus payroll are collected in the same manner as standard payroll, unless the $100,000 next day deposit rule for federal withholding applies.
If you accumulate $100,000 or more in federal withholding taxes for a single deposit period (reported on Form 941), the IRS requires the federal tax deposit/payment to be made the next business day. If this IRS mandated rule applies, all taxes for the associated payroll must be wired to myPay Solutions before payroll is finalized. Contact your Payroll Specialist right away if the next day deposit rule applies.
If you think your federal 941 liability will be close to $100,000, you can select
Preview Payroll
before submitting your payroll batch for processing.
note
If you process 2 separate pay dates within a single deposit period, the combined federal liability may put you over the $100,000 limit.
There are 2 deposit periods:
  • Deposit Period 1: Checks dated for Wednesday, Thursday, and Friday
  • Deposit Period 2: Checks dated for Saturday, Sunday, Monday, and Tuesday
If you process payroll for a pay date of Thursday with a federal liability totaling $50,000 and another payroll dated for Friday in the same week with a federal liability totaling $60,000, the next day deposit rule applies. Even though the liability associated with each individual check date was under $100,000, the combined federal liability for the single deposit period (Wednesday through Friday) exceeded $100,000.