"The Federal Unemployment Tax Act or FUTA is the legal basis for this federal employer tax. Its main purpose is to provide state governments with funds that can be used to pay the unemployment benefits of laid-off workers. In a recession, though, state governments are forced to either take out loans or reduce funding allocated to pay unemployment benefits. Either route is a hard pill to swallow, especially the former. In fact, as of January 2014, 15 states had their unemployment tax rates increased due to outstanding loan payments. Thankfully, Colorado isn’t one of them. That being said, discrepancies in unemployment tax payments are just as bad as a company’s failure to meet obligations under the FUTA. While the responsibility of paying unemployment taxes may rest on employers, it falls to professional bookkeeping services in Denver from the likes of B2 Accounting and Bookkeeping to make sure no mistakes are made in the accounting process."
http://www.denverbookkeepingservice.com/denver-bookkeeping-services-economic-benefits-accurate-form-490s/
