The final FUTA payment for the year is due on:

The final FUTA payment for the year is due on:

• A. A. 01/15
• B. B. 12/31
• C. C. 01/31
• D. D. 02/15

Answer: (C)

The final Federal Unemployment Tax Act (FUTA) payment for the year is due on January 31 of the following year. This deadline allows employers to accurately calculate their FUTA liability based on wages paid during the previous calendar year. Employers are required to file and pay their FUTA taxes quarterly, but if the accumulated FUTA tax liability is $500 or more at the end of the calendar year, any unpaid amount must be paid by January 31. This timing is essential for compliance, as employers need to ensure that their records are updated and any final payments are submitted by this date to avoid penalties or interest charges. Hence, January 31 is the correct date for the final FUTA payment, making it crucial for payroll professionals to be aware of this deadline in their payroll processes.

The final Federal Unemployment Tax Act (FUTA) payment for the year is due on January 31 of the following year. This deadline allows employers to accurately calculate their FUTA liability based on wages paid during the previous calendar year. Employers are required to file and pay their FUTA taxes quarterly, but if the accumulated FUTA tax liability is $500 or more at the end of the calendar year, any unpaid amount must be paid by January 31.

This timing is essential for compliance, as employers need to ensure that their records are updated and any final payments are submitted by this date to avoid penalties or interest charges. Hence, January 31 is the correct date for the final FUTA payment, making it crucial for payroll professionals to be aware of this deadline in their payroll processes.