How to determine whether a company is a semi-weekly or monthly depositor for Form 941 in EasyACCT

This article explains how EasyACCT determines whether a company is a semi-weekly or monthly depositor for Form 941.

The program defaults to Monthly Depositor when:

• The total tax reported for the four quarters in the lookback period (July 1 through June 30) is $50,000 or less.

The program defaults to Semi-Weekly Depositor when:

• The total tax reported for the four quarters in the lookback period (July 1  through June 30) is more than $50,000.
• If a liability of $100,000 or more is accumulated on any one day within the quarter.

If after-the-fact payroll is entered and lumped together on one day or in one month, it could also impact the program's default selection.

Related topics:

• IRS Deposit Requirements for Employment Taxes - Notice 931
• IRS Instructions for Form 941