Asked by justin motley on May 22, 2024

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An employer's federal unemployment taxes (FUTA) are reported:

A) Annually.
B) Semiannually.
C) Quarterly.
D) Monthly.
E) Weekly.

Federal Unemployment Taxes

Taxes imposed on employers to fund the federal government's oversight and support of state unemployment insurance programs.

FUTA

The Federal Unemployment Tax Act (FUTA) is a United States federal law that imposes a payroll tax on employers to fund state workforce agencies.

Annually

Relating to a period of one year, typically used in the context of financial reporting, budgeting, or payments.

  • Clarify and determine the financial charges on an employer under unemployment taxation, factoring in contributions to both FUTA and SUTA.
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Verified Answer

CS
ceecee smithMay 23, 2024
Final Answer :
A
Explanation :
FUTA taxes are reported annually, typically using IRS Form 940, to summarize the employer's federal unemployment tax liability for the year.