Question

Look-Back Periods 1. Label the following look-back periods for 20XC by months. A B C D 20XA 20XB Monthly versus Semiweekly Depositor 2. In December 200B, Becky tries to find out whether she is a monthly or semiweekly depositor for FICA (OASDI and Medicare) and federal income tax for 20XC. Please advise based on the following taxes owed: 20XA Quarter 3 Quarter 4 Quarter 1 Quarter 2 $44,000 10,000 3,100 10,700 20XB

Answer 1

Soluton Given The look- back peiods Pon 20Xc bj Month's = The bollowing label an a 20XA ; c, D an d 20XB in the quat eTs A, B В D 20XA 20 XB Wanten janj- Ma13 Wote: Jan-Ma 31 Uanten2: A parl Jun30 yuant APJ) 1 - Jvn 30 vanteng: JULI - ,Sep 30 cyuanke13: JUL Y - sep30 yvanten: oct 1- De031 ua oct 1- Dec 31 look-beack period is this Used to deve the deposit Schedule the Purpose ob taxes FTCA and also Used the fedenlaj in core ak es: Ане daring the faxes Paldl in that the Month an d it Psevious Heasaled qWO7T ens

Schedute deposit have on e s fed ea 1s Medicae another one and income taxes totally the tlabty ob depends on during the back peniod look This aok-back penlods to 20 x by onths