What Is My FUTA Tax Deposit Frequency?

FUTA tax deposits background

FUTA stands for the Federal Unemployment Tax Act. This is a federal tax paid by the employer to help fund the federal component to oversee each state’s unemployment program. For more info, see our blog articleWhat is FUTA?

If you are a Full Service Payroll customer of Patriot Software, you will need to indicate whether your company files its FUTA tax on a quarterly basis, or an annual basis. Most companies file FUTAannuallyonForm 940.

How to set up your FUTA Tax Deposit Frequency in Patriot Software

• If you are a Full Service Payroll Customer and this is your first time setting up your tax deposit frequencies, you will choose your tax deposit frequencies in the wizard.
• If you have already completed the wizard and need to change your frequency, go toSettings > Tax Service Settings > Tax Deposit Frequencies > Edit
• The Federal Unemployment Tax (FUTA) will be pre-set to “Annual due 01-31.” In most cases, you will keep the default “Annual due 01-31.” You should only choose “Quarterly” if you are a Full-Service Payroll customer and have already filed your FUTA tax for previous quarters.
• ClickSave Settingsat the bottom of the page.