In December 200B, Glenda tries to find out whether she is a monthly or semiweekl

ID: 2409580 • Letter: I

Question

In December 200B, Glenda tries to find out whether she is a monthly or semiweekly depositor for FICA (OASDI and Medicare) and federal income tax for 200C. Please advise based on the following taxes owed:

What is the total of the look-back period? [ Select ] ["$26,300", "$63,300", "$52,400"]

Glenda is classified as a [ Select ] ["Monthly", "Semi-weekly"]

200A Quarter 3 $37,000 Quarter 4 12,000 200B Quarter 1 3,400 Quarter 2 10,900

Explanation / Answer

Determination of Glenda monthly or semi-weekly depositor for FICA and Federal Income tax for 200C

Step-1: Pre-requisite for determination:

Step-2: Provisions of the Act:

Step-3: Applying provisions to the current facts of case:

Quarter 3

37000

Quarter 4

12000

Quarter 1

3400

Quarter 2

10900

Total Liability

63300

A) Total of look back period- $63,300.

B) As the total tax liability is more than $50,000,Glenda is semi-weekly depositor