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FUTA example

FUTA tax liability

What do you do?

First Quarter 200.00

 YTD 200.00

Because the tax liability is less than $500, you don't need to make a tax deposit this quarter.

First Quarter 200.00
Second Quarter +350.00

 YTD 550.00

Because the tax liability has passed the $500 limit for the calendar year, the IRS requires that you make a tax deposit for $550.00.

Assisted Payroll subscribers Assisted Payroll makes the quarter's FUTA tax deposit for you. However, you are responsible for making the tax deposit for any quarter in which you were not using Assisted Payroll. In addition, Assisted Payroll makes tax deposits via EFTPS regardless of how much you have accumulated in tax liability.

11/22/2017 6:52:37 AM
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