Question

Summarize the deposit rules for nonagriicultural employers. What is your opinion on the rules.

Your original post should have more than 50 words but no more than 100 words.

Answer 1

The deposit rules for non agricultural employer's are as follows:

1 Dependingon the total amount of taxes employers may have to pay their taxes several times a month or monthly.

2.employers may not have to make any deposits but, instead, may pay their taxes at the time of filing their quarterly return, Form 941.

3.The amount of employment taxes that the employer reported on the quarterly returns for the four quarters in the lookback period determines if the employer is a monthly or a semiweekly depositor.

4.A new employer becomes a monthly depositor until a lookback period that can be used to determine deposit frequency is established. However, if an unsatisfied deposit of $100,000 or more triggers the $100,000 one-day rule at any time during the year, the new employer becomes a semiweekly depositor for the remainder of the current calendar year and the subsequent calendar year.