Question

The final FUTA payment for the year is due on:

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

Answer 1

The final FUTA payment is due by January 31 of the following year, corresponding with option C from the provided choices.

Step-by-step explanation:

The final FUTA payment for the year is due on January 31. The Federal Unemployment Tax Act (FUTA) tax payments are associated with employer contributions to state unemployment funds, and while the IRS requires quarterly payments if due, the final payment for any remaining FUTA tax is due by January 31 of the following year.

This corresponds with option C. It should be noted that if the due date falls on a weekend or holiday, the deadline may be extended to the next business day.