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Here’s what Virginia taxpayers need to know about federal and state income tax filing deadlines for the 2026 tax season.
The Federal Unemployment Tax Act (or FUTA, I.R.C. ch. 23) is a United States federal law that imposes a federal employer tax used to help fund state workforce agencies.
A few other states simply choose not to tax unemployment benefits, while others tax only a portion. Alaska, for example, doesn’t have a state tax and therefore doesn’t tax unemployment benefits.
The Virginia Department of Taxation is the executive branch agency of the state government responsible for taxation in the state of Virginia in the United States. [1][2][3][4]
Unemployment insurance in the United States, colloquially referred to as unemployment benefits, refers to social insurance programs which replace a portion of wages for individuals during unemployment. The first unemployment insurance program in the U.S. was created in Wisconsin in 1932, and the federal Social Security Act of 1935 created programs nationwide that are administered by state ...
The Virginia Employment Commission (VEC) is an agency of the Virginia state government that provides benefits and services to unemployed citizens, such as employment programs. [1][2] The agency currently runs a monthly newsletter, sends monthly reports to the Virginia General Assembly, and issues press releases.
Unemployment benefits, also called unemployment insurance, unemployment payment, unemployment compensation, or simply unemployment, are payments made by governmental bodies to unemployed people.
Social Security tax applies only to the first $132,900 of wages in 2019. [8] There is an additional Medicare tax of 0.9% on wages above $200,000. Employers must withhold income taxes on wages. An unemployment tax and certain other levies apply to employers.