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During the lookback period of July 2017 to June 2018, Adventure Ski LLC reported federal employment taxes for the four quarters as follows: $15,200, $15,800, $4,200, and $17,600. Therefore, in 2019 they will be required to:

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Answer:

Adventure Ski LLC will file a form 941 for the four-quarter period. That is for total amount of $52,800.

Explanation:

When filing form 941 in 2019 it will be against four quartets from July 2017 to June 2018. The companie's tax obligation will be on 15,200+15,800+4,200+17,600 =$52,800

The guideline for tax payment is:

1. When the amount filed is below $50,000, tax deposits are made monthly.

2. For tax payments above $50,000 tax deposits are semi-weekly.

It is important to note that when deposits are delayed by 1 to 5 days the company will be fined 2%. Delay of 6 to 15 days will attract a fine of 5%.

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