Federal Tax Deposits (FTD)
- Biweekly or monthly contributions made by employers to the IRS, involving payroll taxes withheld from employees and employer portions for Social Security and Medicare taxes
- Company A failed to make Federal Tax Deposits, ending in an investigation by the IRS.
- The finance department is responsible for ensuring timely Federal Tax Deposits to avoid penalties.
- Late or short Federal Tax Deposits can lead to hefty fines from the IRS.
Provide Feedback
