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For depositing and paying FUTA tax If due date falls on a weekend or federal/state holiday when is the payment due?

A. Add to next deposit
B. At the earliest time possible
C. One business day earlier
D. Next business day

User Kdechant
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Final answer:

If the due date for FUTA tax falls on a weekend or holiday, the payment is due the D)next business day. This allows employers to avoid penalties for late payments and to plan accordingly around tax deadlines.

Step-by-step explanation:

When the due date for depositing FUTA (Federal Unemployment Tax Act) tax falls on a weekend or a federal/state holiday, the payment is generally due the next business day.

For instance, if the FUTA tax payment is due on a Saturday, it should typically be paid by the following Monday. If Monday is a holiday, then the due date would be the next business day, which is Tuesday.

This rule ensures that payments are made in a timely fashion, avoiding possible penalties for late payments. It's important for employers to plan in advance for such occurrences, especially around federal holidays or weekends that coincide with tax deadlines.

User Blair Zajac
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