FUTA stands for Federal Unemployment Tax Act and is reported on the IRS annual Form 940.
FUTA Extended Definition
FUTA tax is the federal part the unemployment insurance program created by the Federal Unemployment Tax Act. Employers pay FUTA tax to fund the federal government’s part in overseeing each state’s unemployment (SUTA) program.
What Is FUTA Tax? A Brief Guide for Employers | Patriot Software
Last Updated By
Jenna Hutkowski | Apr 27, 2023