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IRS Form 945 is due ANNUALLY, with a due date of January 31 - unless you have paid all taxes already during the year, in which case you have until February 11.
See the instructions to the form, HERE
Yes, I understand form 945 is due Jan. 31. How often should taxes be paid? Can you pay with form 945 if the amount is less than $2500?
Hold on a min let me verify
You would have to submit these payments monthly, same type of deposit schedule as regular payroll tax withholding
Unless you are considered a semi-weekly depositor, and you would have to be fairly large for that.
so monthly before 15th of each month?
That is correct
Publication 15, section 11 states "$2,500 threshold for the deposit requirement discussed earlier applies to form 945 on an annual basis"
or you can pay it, rather
If you owe $2,500 or less, you can file it annually with your return
Please let me know if I understand it correctly. So, the deposits should be made on a monthly schedule, but you can pay when you file the return if the amount is less than $2500
yes, that is correct
and will not incur penalties
understood. thank you.
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one more questions, are there CA LLC min taxes due for a single member LLC?
Yes, you would have to pay the minimum taxes for a smllc
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