For a monthly depositor with $2,900 in employment taxes, when must the taxes be deposited?

For a monthly depositor with a tax liability of $2,900 in employment taxes, the taxes must be deposited by the 15th of the following month, which, in this case, is November 15. The IRS requires monthly depositors to make their tax deposits by the 15th of the month following the month in which the tax liability was incurred. This timing ensures that the IRS receives the necessary funds on a regular schedule, facilitating the management of federal tax revenues.

Given that the amount owed exceeds $2,500, the requirement to deposit by the designated date is critical to avoid penalties for late payment. Understanding these rules helps in maintaining compliance with federal regulations regarding employment tax deposits.