How often must a brand-new employer deposit payroll taxes, and what is the 100k next-day rule?
German founder with a US LLC that just started paying two US employees. The payroll provider set us up as a 'monthly depositor' and I don't understand where that label comes from — we pay wages every two weeks, so why isn't the deposit biweekly? I also saw a warning in the provider dashboard about a next-day rule for large accumulations. We may pay out a sizable commission bonus later this year, so I want to understand when that rule bites.
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