When the 4th quarter futa tax is not at least $500, the payment may be mailed at year-end with form 940.
What is tax?
A tax is referred to the amount paid by an individual to the government to contribute to the development of the country through social projects. This tax is laid on different products as a form of duties or charges as well as an amount from the income itself.
FUTA stands for Federal unemployment tax act where you won't need to submit your tax again if your FUTA tax due for the following quarter is $500 or less until the total is $500 or higher.
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