If on Any Day During the Month,an Employer Accumulates $100,000

question 73

Multiple Choice

If on any day during the month,an employer accumulates $100,000 or more in tax liability,the taxes must be deposited:

• A)By the next banking day.
• B)By either the following Wednesday or Friday if the employer is a semiweekly schedule depositor.
• C)Before the close of the business day in which the liability occurs.
• D)By the last day of the week if the employer is a monthly depositor.

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Definitions:

Temporary Assistance

Short-term aid or support provided to individuals or families in need, often from governments or charitable organizations.

Needy Families

Refers to low-income families that require financial assistance or support services to meet basic living needs.

Welfare System

A government program designed to support individuals and families in need through financial aid and social services.

Countercyclical Payments

Financial payments made by the government to individuals or businesses during economic downturns to stimulate the economy.