Final answer:
The due dates for federal tax deposits vary depending on the amount, and the IRS has different schedules for depositing federal taxes.
Step-by-step explanation:
The due dates for federal tax deposits vary depending on the amount. The Internal Revenue Service (IRS) has different schedules for depositing federal taxes. The most common schedules used include the:
- Monthly deposit schedule
- Semi-weekly deposit schedule
- Quarterly deposit schedule
- Annual deposit schedule
The schedule that a taxpayer follows depends on the amount of their federal tax liability. For example, businesses with a tax liability of $50,000 or less typically follow the quarterly deposit schedule.