Publication 5258 - Federal Tax Deposits Page 12
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32The ABCs of Federal Tax Deposits
practical exercise two
1 To determine when deposits are due for 2017, com-
pute the tax liability in the lookback period using
the information from the following list of Form 941
and the chart below.
form 941 Quarter
tax
F
2015
$9,200
irst
s
2015
$8,800
econd
t
2015
$8,000
hird
F
2015
$8,500
ourth
F
2016
$9,000
irst
s
2016
$9,090
econd
t
2016
$9,100
hird
F
2016
$9,300
ourth
Quarter
total taxes from form 941
A
+
B
+
C
+
D
+
E
Total
=
2 Based on your answer to Question 1 , which deposit
schedule would you follow in making your FTDs?
A. Semiweekly
B. Monthly
3 Which deposit schedule would you follow in mak-
ing your FTDs if this is the first quarter that the busi-
ness has employees and the tax liability was $5,000
for the quarter?
A. Semiweekly
B. Monthly
12
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