Form 941was less than $2,500, the previous quarterly return was less than $2,500, and there was no next-day deposit obligation for $100,000, you can check the box on Line 16 and move to Part 3. Line 16 is also where you will determine if you are a semiweekly or monthly ...
You must depositmonthly or semi-weekly, depending upon your schedule, if your total tax liability is over $2,500 for a quarter You must make payroll tax deposits using theIRS EFTPS system, no matter what the amount of your payroll tax liability.4 Key Takeaways IRS Form 944 allows small...
Generally speaking, you'll want to notify your employee you'll collect backup withholding, report the withholding to the IRS, and then deposit the withholding to the IRS on a monthly or semiweekly schedule. At the end of the year, you'll submit Form 945. Typically, you can stop backup w...