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Hi Michele, On the labor law side, most states have payment frequency laws, so double-check those in the state where the business is paying its staff. In Illinois, the Department of Labor has rules but gives options for how often you have to pay. As ...
oops, my bad. it wold indeed be a 2024 return, the year in which the starting date occurs. Michael Strelka, CPA
It is based on your deposits during your look-back period. See this link It is not discretionary and you are assigned a deposit frequency schedule annually. EDIT---I misunderstood the question, sorry. I thought it was withholding deposit frequency. ...
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