Question

If you report less than $50,000 in federal payroll tax in a look back period, you must make your tax deposit by what day of the month?

A 10th
B 15 th
C 20th
D 30th

Answer 1

B 15th

Step-by-step explanation:

If you reported taxes of $50,000 or less during the look back period, you're a monthly schedule depositor, and you generally must deposit your employment taxes on payments made during a given month on or before the 15th day of the following month.

For example, you must deposit taxes on payments made in January by February 15. If the 15th of any calendar month falls on a Saturday, Sunday, or legal holiday in the District of Columbia, the deposit is due by the next business day. A business day is any day other than a Saturday, Sunday, or legal holiday.