# Lookback period

> Lookback period — The four quarters — July 1 two years back to June 30 last year — whose Form 941 tax decides a year's deposit schedule: $50,000 or less, monthly; more, semiweekly. A new employer's lookback quarters count as zero.

Source: https://lopifi.com/glossary/lookback-period
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

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**What is lookback period?** In accounting, lookback period means the four quarters — July 1 two years back to June 30 last year — whose Form 941 tax decides a year's deposit schedule: $50,000 or less, monthly; more, semiweekly. A new employer's lookback quarters count as zero.

## Words this system refuses for it

- the prior year
- the last four quarters

- **Category:** Payroll
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** form-941, period