Question 4

The annual 940 Return for reporting Federal Unemployment Taxes (FUTA) is due by January 31.

The due date for the annual 940 Return, which is used to report Federal Unemployment Taxes, is January 31 of the following year after the tax year being reported.

A) January 1.

January 1 is not the correct due date for the annual 940 Return. By this date, employers would still be in the process of preparing their returns, and it does not allow adequate time for the reporting of taxes for the previous year.

B) January 31.

This option is correct as the annual 940 Return must be filed by January 31. This deadline allows employers to accurately report their Federal Unemployment Taxes for the previous calendar year.

C) March 15.

March 15 is incorrect as it does not align with the due date for the annual 940 Return. This date is typically associated with the filing of other tax returns, such as corporate tax returns, rather than the FUTA return.

D) April 15.

April 15 is also incorrect for the annual 940 Return due date. This date is recognized for individual income tax returns, making it irrelevant to the reporting of Federal Unemployment Taxes.

Conclusion

The correct answer is January 31, as it is the established deadline for filing the annual 940 Return for Federal Unemployment Taxes. All other options fail to represent the accurate deadline, thereby confirming that January 31 is the definitive date for compliance with FUTA reporting requirements.