If Schrumpf LLC, a semiweekly depositor, is required to deposit $3,090 of 941 taxes, what is...
If Schrumpf LLC, a semiweekly depositor, is required to deposit $3,090 of 941 taxes, what is the maximum amount of their shortfall in order to not be subject to a failure-to-deposit penalty?
Homework Answers
AS PER RULES :If you reported taxes of more than $50000 for the look back period ,you're a semiweekly schedule depositor,and you must deposite your employment taxes based on the following schedules.
1.If your pay day on wednesday,Thuesday, and or friday,you must deposite these taxes by the following wednesday .
2.If your pay day is on saturday,sunday,monday ,and or tuesday ,you must deposit these taxes by the following friday.
*If you're required to make a deposit on a day that's not a business day ,the deposit is consider timely if you make it by the close of the next business day.
Here in the given case Schhrumpf LLC,is a semiweekly depositor
so,he is required to deposit $3090 on based on the above given 2 schedules .
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If Schrumpf LLC, a semiweekly depositor, is required to deposit
$3,090 of 941 taxes, what is...
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