What is the penalty for submitting an IRS payroll tax deposit in the amount of $5,000 that is 2 days late?

When a payroll tax deposit is submitted late, the penalty imposed by the IRS is based on the amount of the deposit and the length of the delay. For a deposit that is 2 days late, the penalty is calculated as follows:

If the deposit is less than $100, the penalty is generally $0. If the deposit amount is between $100 and $25,000 and is late by 1 to 5 days, the penalty is typically 2% of the unpaid amount. Since $5,000 falls into this range, the penalty for being 2 days late would be 2% of $5,000, which amounts to $100.

This context helps to clarify why the choice is correct, as it accurately corresponds to the IRS guidelines for late payroll tax deposits according to the specified time frame. The other choices reflect penalties that would apply to different circumstances or delays and do not align with the IRS's structured penalty system for a deposit of this size that is just 2 days behind schedule.