HR Glossary

Federal Unemployment Tax Act (FUTA)

By October 31, 2019 No Comments

What is the Federal Unemployment Tax Act (FUTA)?  Definition below:

”The Federal Unemployment Tax Act (FUTA) is a federal law which requires employers to pay a tax which helps fund unemployment programs.

The Federal Unemployment Tax Act (FUTA) is required of most companies and is owed to the Internal Revenue Service (IRS) in deposits throughout the year.

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