Final Answer:
Paraphrase: Considering the reported employment taxes of $90,000.00 during the lookback period, the company is required to make payroll tax deposits in the current year.
Final Answer: The company must deposit its payroll taxes based on the reported $90,000.00 in employment taxes during the lookback period.
Step-by-step explanation:
4. Explanation: Payroll tax deposits are determined by the lookback period, during which the company reports its employment taxes. In this scenario, the reported employment taxes amount to $90,000.00 during the lookback period.
Explanation: The company's payroll tax deposit obligation for the current year is directly linked to the employment taxes reported in the lookback period. The reported amount of $90,000.00 serves as the basis for calculating the required payroll tax deposits.
Explanation: The lookback period is a historical timeframe used by the Internal Revenue Service (IRS) to assess a company's tax liability. In this case, the $90,000.00 reported during this period influences the current year's payroll tax deposit requirements.
Explanation: It is crucial to focus on the true and applicable information. In this context, the reported employment taxes during the lookback period are the relevant data for determining the current year's payroll tax deposits.
Therefore, the correct option is that the company must deposit its payroll taxes based on the reported $90,000.00 in employment taxes during the lookback period.
Calculation: The calculation involves using the reported employment taxes of $90,000.00 as the basis for determining the payroll tax deposits in the current year.
Answer Length: The comprehensive explanation highlights the connection between the reported employment taxes in the lookback period and the subsequent payroll tax deposit obligations in the current year.