Failure to Deposit Penalty

Taxpayers filing Forms 940, 941, 943, 944, 945, CT-1, 720, and 1042 are required to pay taxes through the Electronic Federal Tax Deposit System (EFTPS). Forms 941, 943, 944, 945 and CT-1 filers must deposit taxes either monthly or semi-weekly. Taxpayers who report less than $2,500.00 in taxes for a tax period on Form 941, Form 943, Form 944, or Form 945, may send the tax payment with their return when filing timely. For tax periods beginning after December 21, 2004, taxpayers who report less than $500.00 in taxes for a tax period on Form 940 may send the tax payment with their return when filing timely.