Which of the following deposit requirements pertains to a monthly depositor who has accumulated employment taxes of $2,900 at the end of October?

Question

Quizplus · Accepted Answer

Monthly depositors are required to deposit employment taxes by the 15th day of the following month. In this case, since the employment taxes have accumulated to $2,900 by the end of October, they must be deposited on or before November 15. Therefore, Option C is the correct choice. Option A is incorrect because a deposit is required for accumulated employment taxes. Option B is incorrect because carrying over undeposited taxes is not allowed for monthly depositors. Option D is incorrect because the 15th of the following month is the due date for monthly depositors. Option E is incorrect because one of the options is correct.

Which of the Following Deposit Requirements Pertains to a Monthly