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FUTA Rates

Employers in Two States & Virgin Islands Could Pay Higher FUTA Rates in 2016

Employers in Two States & Virgin Islands Could Pay Higher FUTA Rates in 2016

California, Ohio, and the Virgin Islands have outstanding federal unemployment loan balances as of Mar. 28, 2016. Employers in these jurisdictions will pay 2016 federal unemployment tax (FUTA) at a higher rate than employers in other areas if the loans are not repaid by Nov. 10, 2016. Background. Employers pay FUTA tax at a rate of 6.0% […]

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Employers in three states and the Virgin Islands will have higher FUTA rates in 2015

Employers in three states and the Virgin Islands will have higher FUTA rates in 2015

2015 Department of Labor FUTA credit reduction schedule. The U.S. Department of Labor (DOL) has released a schedule that shows the states that, because they have had an outstanding federal unemployment insurance (UI) loan for at least two years, are subject to the federal unemployment tax (FUTA) credit reduction on 2015 federal Form 940, Employer’s […]

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Employers in Four States and the Virgin Islands Could Pay Higher FUTA Rates in 2015

Employers in Four States and the Virgin Islands Could Pay Higher FUTA Rates in 2015

There are very few states with outstanding federal unemployment loan balances—California, Connecticut, Indiana, Ohio, and the Virgin Islands. Employers in these jurisdictions will pay 2015 federal unemployment insurance (UI) taxes at a higher rate if the loans are not repaid by Nov. 10, 2015. Background. Employers pay FUTA tax at a rate of 6.0% on the first […]

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Employers in eight states and the Virgin Islands could pay higher FUTA rates in 2015

Employers in eight states and the Virgin Islands could pay higher FUTA rates in 2015

The Department of Labor (DOL) says that employers in eight states (and the Virgin Islands) may not be eligible to claim the maximum amount of state unemployment tax credits on their 2015 federal unemployment (FUTA) tax return. That’s because their state has had an outstanding federal unemployment insurance (UI) loan for at least two years. […]

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Employers in 7 states and the Virgin Islands will face higher FUTA rates for 2014

Employers in 7 states and the Virgin Islands will face higher FUTA rates for 2014

The U.S. Department of Labor (DOL) has released a schedule that shows the states that, because they have had an outstanding federal unemployment insurance (UI) loan for at least two years, are subject to federal unemployment tax (FUTA) credit reduction on 2014 federal Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. Click here for […]

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Employers in 15 states may face higher FUTA rates in 2014

Employers in 15 states may face higher FUTA rates in 2014

We previously blogged on this twice – Employers in 17 states may face higher 2013 FUTA rates and Employers in 13 states will face higher 2013 FUTA rates. Employers in 15 states (and the Virgin Islands) may not be eligible to claim the maximum amount of state unemployment tax credits on their 2014 federal unemployment […]

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Final regs allow agents to handle FUTA for home care service employers

Final regs allow agents to handle FUTA for home care service employers

In T.D. 9649, 12/11/2013; Reg. § 31.3504-1, IRS has issued final regs that allow a home care service recipient to designate an agent under Code Sec. 3504 to report, file, and pay all employment taxes, including those due under the Federal Unemployment Tax Act (FUTA). The regs also allow an intermediary to file a single […]

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IRS updates procedures for requesting approval for employment tax authorizations

IRS updates procedures for requesting approval for employment tax authorizations

In Revenue Procedure 2013-39, 2013-52 IRB, in conjunction with new final regs issued on the same day, IRS has described and updated the procedure for requesting its authorization for a person to act as an agent under Code Sec. 3504 for purposes of Chapters 21 (Federal Insurance Contributions Act, or FICA), 22 (Railroad Retirement Tax […]

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Employers in 13 states will face higher 2013 FUTA rates

Employers in 13 states will face higher 2013 FUTA rates

The U.S. Department of Labor (DOL) has issued the final list of states for which employers will not be eligible to claim the maximum amount of state unemployment tax credits on their 2013 federal unemployment (FUTA) tax return because the state has had an outstanding federal unemployment insurance (UI) loan for at least two years. […]

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Employers in 17 states may face higher 2013 FUTA rates

Employers in 17 states may face higher 2013 FUTA rates

Employers in 17 states (and the Virgin Islands), may not be eligible to claim the maximum amount of state unemployment tax credits on their 2013 federal unemployment (FUTA) tax return, because their state has had an outstanding federal unemployment insurance (UI) loan for at least two years. Background. Employers pay FUTA tax at a rate […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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