Understanding Payroll Liabilities – What You Owe and When
It’s More Than Just Cutting Paychecks
Many Oklahoma business owners think payroll is just about paying employees. But behind every paycheck is a series of liabilities you’re responsible for — and if you miss one, it can cost you.
From federal and state withholding to unemployment insurance and FUTA, you’re handling multiple obligations every time you run payroll.
In this guide, we’ll break down exactly what you owe, when it’s due, and how to manage it without the stress.
What Are Payroll Liabilities?
Payroll liabilities are the taxes and other payments you owe as an employer every time you run payroll.
They include:
- Federal income tax withholding (from employee wages)
- State income tax withholding (Oklahoma)
- Social Security and Medicare (FICA)
- Employer-matching FICA taxes
- Federal unemployment tax (FUTA)
- Oklahoma unemployment tax (OESC)
- Other deductions (garnishments, benefits, retirement, etc.)
When Are Payroll Liabilities Due?
IRS Deadlines:
- 941 deposits: Semiweekly or monthly, based on your payroll size
- Form 941 filing: Quarterly
- FUTA deposits (Form 940): Quarterly if >$500 is owed
Oklahoma Deadlines:
- OW-9 (withholding): Monthly or quarterly
- OW-2 (annual reconciliation): January 31
- OES-3 (unemployment): Quarterly
Miss these deadlines? Penalties and interest apply — fast.
How to Track Your Liabilities in Real Time
Use your payroll platform to:
- Generate a liabilities report after every payroll run
- Reconcile liabilities to your bank register
- Confirm tax deposits were made (EFTPS and OKTAP)
- Double-check Form 941, 940, OW-9, OW-2 against what’s in your ledger
Pro tip: Always log in to OKTAP monthly — don’t assume your payroll provider filed correctly.
What Happens If You Don’t Pay Payroll Liabilities?
You could face:
- IRS failure-to-deposit penalties (2–15%)
- OTC late payment penalties
- OESC late filing fees
- Personal liability for trust fund taxes (IRS TFRP)
Even if you outsource payroll, you are still legally responsible.
How Boulanger CPA Helps You Stay On Track
We:
- Calculate and track liabilities every pay period
- Reconcile payroll liability accounts monthly
- Verify all deposits and filings through OKTAP and EFTPS
- Respond to notices and resolve discrepancies
- Use iSolved’s built-in tools to prevent surprises
We don’t just “run payroll” — we manage the whole tax picture.
Need Help Managing Payroll Liabilities?
Avoid payroll tax surprises and get clarity on what you owe — and when.
📞 Call Boulanger CPA at (405) 384-4900
📅 Or schedule your free compliance strategy session today.
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FAQ – Payroll Liabilities in Oklahoma
What’s the difference between payroll expense and payroll liability?
Payroll expense is what you pay employees. Payroll liability is what you owe to the IRS, OTC, or other agencies.
Does my payroll provider handle the liabilities?
Only if you’ve enrolled in full-service tax filing. Always double-check.
Can I be held personally responsible for payroll taxes?
Yes. The IRS can assess the Trust Fund Recovery Penalty (TFRP) against business owners who fail to remit withheld taxes.
How can I make sure nothing slips through the cracks?
Work with a CPA who monitors filings, deposits, and your payroll ledger — not just your check runs.
Marc Boulanger
Marc views his accounting business as an extension of his family. And while he holds a Bachelor of Arts in Business Administration and Accounting and a Masters of Science in Accounting, he values traveling around the country with his wife of 30 years and 5 kids, Marc learned that communication is the key to effective team work.
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