An employer’s payroll tax deposit combines withheld employee income tax with both the employee and employer shares of Social Security and Medicare into one total liability.
How it works
Social Security is calculated at the full 12.4% combined rate (employee plus employer) and Medicare at the full 2.9% combined rate, both applied to total wages, then added to federal income tax withheld for the total deposit.
What this does not include
This treats all wages as fully subject to FICA — wages above the annual Social Security wage base for individual high earners would reduce the effective blended rate below 12.4%, a per-employee cap this simplified single-total calculator doesn’t apply.
How to use this calculator
- Enter total wages subject to FICA this quarter and federal income tax withheld.
Frequently asked questions
How often must this deposit be made?
Depends on the employer’s deposit schedule (monthly or semi-weekly), determined by total tax liability reported in a prior lookback period — Form 941 itself is filed quarterly regardless of deposit frequency.
Does this include the Additional Medicare Tax?
No — the 0.9% Additional Medicare Tax applies only above a per-employee wage threshold and isn’t matched by the employer, a detail this blended-rate calculator doesn’t add separately.
What happens if a deposit is late?
The IRS assesses escalating penalties based on how late the deposit is, making timely deposits one of the most important payroll compliance deadlines for an employer.
