# Monthly schedule depositor

> Monthly schedule depositor — An employer whose lookback-period tax was $50,000 or less, and every employer in its first year: the federal income tax withheld and both halves of FICA on a month's paydays are deposited by the 15th of the next month.

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

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**What is monthly schedule depositor?** In accounting, monthly schedule depositor means an employer whose lookback-period tax was $50,000 or less, and every employer in its first year: the federal income tax withheld and both halves of FICA on a month's paydays are deposited by the 15th of the next month.

## Words this system refuses for it

- monthly payroll (the deposit schedule is not the pay frequency)

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