Question

A company is a semiweekly depositor. Its paydays are every other Tuesday. When are the company's payroll tax deposits due if they are less than $100,000.00?

Answer 1

For semiweekly depositors like the company in question with paydays every other Tuesday, payroll tax deposits are due by the following Friday, according to the IRS deposit regulations.

Step-by-step explanation:

If a company is a semiweekly depositor with paydays every other Tuesday, and its payroll tax deposits are less than $100,000, the deposit schedule depends on the day of the week that payday falls on.

For semiweekly depositors, taxes from paydays on Wednesday, Thursday, and Friday are due by the following Wednesday, and for paydays on Saturday, Sunday, Monday, and Tuesday, the taxes are due by the following Friday. This rule is in accordance with the deposit regulations of the IRS concerning employers and their handling of withheld payroll taxes.