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As stated ( Topic No. 757 Forms 941 and 944 - Deposit Requirements | Internal Revenue Service, n.d.) when deciding whether to deposit future payroll taxes to the government on a monthly or semiweekly basis, employers might use the lookback period for payroll taxes. Unless there are special conditions, new employers are considered monthly schedule deposits. The entire tax liability stated by the employer on Form 941 over a four-quarter lookback period serves as the basis for the deposit schedule. Cruz et al. (2023, p. 150) state that if you have recently filed Form 941, we can ascertain that the 12-month lookback period, which is divided into four quarters, starts on July 1st of the second preceding year and concludes on June 30th of the previous year. If you filed Form 944 in the current year or in any of the two previous years, the lookback period is the calendar year two years before the year you're depositing. If an employer's total payroll taxes for the lookback period were $50,000 or less, they are regarded as monthly schedule depositors. If the total taxes are more than $50,000, the employer is a semiweekly schedule depositor. REFERENCES: Topic No. 757 Forms 941 and 944-Deposit Requirements / Internal Revenue Service. (n.d.). Www.irs.gov. https://www.irs.gov/taxtopics/tc757 Cruz, A., DesChamps, M., Niswander, F., Prendergast, D., & Schisler, D. (2023). Fundamentals of Taxation 2024 Edition (p. 150). McGraw-Hill Companies