Whether you’re a small business or a large enterprise, staying on top of payroll tax deadlines is essential. Missing these key dates can result in penalties, interest charges, and reputational damage. Here’s a breakdown of the most important payroll tax deadlines every employer should remember—and how to stay compliant.
1. Monthly Payroll Tax Filing and Payment
Employers are typically required to withhold and remit payroll taxes (like income tax, social security, UIF, or SDL) every month.
- Know your local submission deadline (e.g., the 7th of each month in South Africa).
- Set automated calendar reminders for submission and payment.
- Use payroll software that auto-generates and submits monthly returns (e.g., EMP201 in South Africa or IRS Form 941 in the U.S.).
2. Quarterly and Bi-Annual Reconciliations
Many jurisdictions require employers to reconcile payroll tax payments and submit reports quarterly or bi-annually.
- Prepare a schedule for quarterly or mid-year tax reconciliations.
- Reconcile amounts paid to tax authorities with payroll reports.
- Ensure employee earnings and deductions are reported accurately.
3. Annual Employee Tax Statements
At the end of the tax year, employers must issue income tax certificates or summaries to all employees.
- Generate and distribute IRP5, W-2, or equivalent documents before the annual deadline.
- Confirm employee information (ID numbers, tax numbers) is up to date.
- Submit employee tax records to the relevant tax authority electronically.
4. Year-End Tax Submission
The final payroll submission of the tax year requires extra attention to detail.
- Finalise all payroll runs, bonuses, and adjustments.
- Submit the final reconciliation and backup your data securely.
- Review deadlines with your payroll provider or accountant.
Conclusion: Timely payroll tax submissions protect your business from penalties and ensure employee trust. Stay ahead by planning ahead.
