Mastering Payroll 2020 - Section 6-How Employers Withhold and Deposit Federal Taxes

4. Determine when each of the following must deposit its Form 941 tax liabilities. a. Slowque, a monthly depositor, pays employees on Friday. Its total 941 deposit obligation for wages paid on September 4, 2020, is $2,000. b. Lopez & Sons, a monthly depositor, pays employees on the 15th and last day of the month. Its 941 deposit obligation for wages paid on June 26, 2020, is $112,400.

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