Instructions For Preparing The Employer'S Quarterly Payroll Report (Vec Fc-21) And The Employer'S Quarterly Tax Report (Vec Fc-20) (Page 2 of 3) in pdf

FC-20

FC-20 T T T T T ax Repor

ax Repor

ax Report: t: t: t: t:

ax Repor

FC-20

ax Repor

Information enter

Information entered in the employer

ed in the employer

ed in the employer name & addr

ed in the employer

name & addr

name & address,

ess,

ess, VEC account number

VEC account number

VEC account number, quar

, quar

, quarter

ter

ter-ending date, and total

ter

-ending date, and total

wages fields on the FC-21 will be carried for

wages fields on the FC-21 will be carried forward to the tax r

ward to the tax r

ward to the tax repor

epor

eport form.

t form.

•

Place the cursor at the Federal ID field and enter your 9-digit FEIN.

•

TAB to the tax rate field and enter your Virginia employer tax rate as a decimal (example: a 2.5% tax rate

should be enter

should be entered as .025

ed as .025

ed as .025).

•

A: A: Enter the total number of covered workers (of all types) in your employment subject to the

Line

Line A:

A: A:

Virginia Unemployment Compensation Act in the pay period, which includes the 12

of each month of the

calendar quarter covered by this report. Compute this figure by adding the number of covered workers

employed during the weekly pay period which includes the 12

of the month, the first semi-monthly pay

period, and the monthly pay period. Enter the total number of covered workers as thus computed for each

month of the quarter.

•

Lines B 1-9:

Lines B 1-9: Reimbursable employers (non-profit organizations, state government, cities, towns and

political subdivisions) that have chosen the reimbursable method of payment to this agency should

complete lines B-1 and B-9 only.

•

Line B-1

Line B-1: The figure on this line was entered automatically, and should be the same as the “total wages”

Line B-1

line from the FC-21 form. Wages include: cash bonuses, tips, commissions, severance pay, etc., and

remuneration other than cash paid to individual employees during this quarter. The value of meals and

lodging provided to an individual for the employer’s convenience is exempt. If no wages were paid, but

there is a delinquency due from prior quarters (line B-8), pay this amount and also enter it on line B-9.

•

The figur

e enter

ed on this line must be pr

eceded by a minus (-) sign

The figur

The figure enter

The figur

e enter

e entered on this line must be pr

ed on this line must be pr

ed on this line must be preceded by a minus (-) sign

eceded by a minus (-) sign

eceded by a minus (-) sign.

Enter

Line B-2

Line B-2: NOTE -

NOTE -

the amount of wages paid to individual employees during this quarter which, when considered with other

wages paid to the employees by you during the calendar quarter, regardless of the state to which the wages

were reported, is in excess of $8,000. Your figure on line B-2 may equal but not exceed line B-1. Example:

An individual is employed from January 1

through December 31

, and is paid $2800 in each of the four

calendar quarters, for a total of $11,200. For the first and second quarters, all wages are taxable and no

excess should be deducted. However, in the third quarter $400 must be entered as excess wages on line 2 of

the third quarter report. In the fourth quarter, the entire earnings of $2800 must be entered on line 2 as

excess wages.

•

Line B-3

Line B-3: This figure will be computed for you, and should be equal to the amount on line B-1 minus line

Line B-3

B-2.

•

Line B-4

Line B-4: This amount is also computed, and is the total taxable wages shown on line B-3 multiplied by

Line B-4

your tax rate (as entered in the tax rate field).

•

Line B-5: If you have received a Notice of Overpayment (form VEC-AC-7) from the Commission, you

Line B-5

may enter the overpayment amount, or a portion thereof, to offset the tax, interest and/or penalty on lines

B-4, 6, or 7. If you discover an error for which an overpayment notice has not been issued, do not deduct

this amount on the report being filed. An explanation for this overpayment must be sent to the VEC

Auditing Unit with details of the error, and the quarter to which it applies. An overpayment notice will then

be issued and you may then apply this amount to offset any obligation to the next calendar quarter.

•

Line B-6: If the tax due is paid after the due date, interest is charged at the rate of 1½ percent per month

Line B-6

(18% annual rate). Any part of the month is considered as a full month for the purpose of computing

interest. Enter this amount on line B-6.

•

Line B-7

Line B-7: A $30 penalty must be added for each report filed after the final due date. This penalty also

Line B-7

applies to state and political subdivision employers. A penalty will not be assessed on reports for quarters in

which no wages were paid. Newly covered employers must file all quarterly tax reports by the due date of

the quarter in which an employer account number was assigned to avoid the $30 penalty on each report.

Interest will accrue even if a penalty is not due. Enter this amount on line B-7.

•

Line B-8

Line B-8: After all prior quarter payments and reports have been processed, any amount remaining should

Line B-8

be entered on line B-8.

•

Line B-9: Compute and verify the total amount due. Make your check or money order payable to the

Line B-9

Virginia Employment Commission, PO Box 1174, Richmond, VA 23218-1174.

Instructions For Preparing The Employer'S Quarterly Payroll Report (Vec Fc-21) And The Employer'S Quarterly Tax Report (Vec Fc-20) Page 2

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