Answer to Question #112581 in Accounting for Everlyn

Question

In Part 5 of Form 940, Peterson Company reported FUTA tax liabilities as follows:

First quarter: $397.50

Second quarter: $209.10

Third quarter: $274.50

Fourth quarter: $262.20

List the amounts and the dates of each required FUTA tax deposit:

1st quarter dates 4/05, 4/15, or 4/30

2nd quarter dates 7/05, 7/15, or 7/31

3rd quarter dates 10/05, 10/15, or 10/31

4th quarter dates 1/05, 1/15, or 1/31

Answer 1

If your FUTA tax liability for the next quarter is $500 or less, you're not required to deposit your tax again until the cumulative amount is more than $500

First-second quarter: amount 3.64$ date due by July 31

Third-Fourth quarter: amount 3.22$ date due by January 31

https://www.nav.com/blog/blog-futa-tax-federal-unemployment-tax-act-416800/