Valued Kondler & Associates clients – did you know that effective July 1, 2011, the Federal Unemployment (FUTA) tax rate was reduced from 0.8% to 0.6%?
For employers liable for FUTA this means that payrolls with check dates on or after July 1, 2011, will be calculated at this new rate of 0.6%, while payrolls with check dates from January 1, 2011 through June 30, 2011 will be calculated using the 0.8% tax rate.
The IRS will revise Form 940 to handle the FUTA rate change for 2011.
More information can be found on the IRS website, Publication 15.
If you have any questions about how this rate decrease will affect you, please contact Kondler & Associates today at email@example.com.