The Pennsylvania Department of Revenue has revised its instructions for completing Form PA-501, Employer Deposit Statement of Employer Withholding Tax.
There are clarifications and modifications to this instructions of which filers should take note:
• “Gross Compensation” was clarified to mean “Total Compensation Subject to PA Tax.”
• “Credits” was clarified to instruct filers to subtract this amount from the withholding tax.
• Filers are no longer required to enter interest amounts on Line 4.
• The “Payment” field will now be automatically calculated and cannot be edited. The payment will equal the PA Withholding Tax (Line 2) less any credits (Line 3).
• Employer Withholding Tax Payments of $1,000 or more must be remitted by an approved EFT method. Failure to comply with this instruction may result in a penalty of 3% but not more than $500.
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