Massachusetts Unemployment Insurance Update
December 31st, 2006 Posted by MarkGet your personnel files handy, new employers in the state of Massachusetts. The Massachusetts unemployment insurance benefit system requires that all employers in the state file an Employer’s Quarterly Contribution Report, also called a “Form 1.” That equals four times a year for you guys who don’t have your accountants around reading this blog with you (har har! Just kidding!).
Each time you file one of these Employer’s Quarterly Contribution forms, they go straight to the Division of Unemployment Assistance in the Department of Labor in Massachusetts. This Division of Unemployment Assistance values timeliness and accuracy on these forms, and they’re not just saying that, folks.
Being timely with your Employer’s Quarterly Contribution forms makes sure that you get all of the credit due to you in the system, as that you account with the Division of Unemployment Assistance is accurate and properly reflects your experience with the department. Remember, once you start getting charged the experience rate for the unemployment insurance in the state of Massachusetts (and anywhere really), you get charged less the better “experience” you have—meaning the fewer former employees that you have on the unemployment benefits pay out.
These forms are due by the end of April for the first quarter of the year, by the end of July for the second quarter of the year, by the end of October for the third quarter of the year, and by the end of January of the following year for the fourth quarter of the previous year.
Another reason to get these forms in to the Massachusetts unemployment insurance system on time: they will fine you otherwise. The Division of Unemployment Assistance withholds the right to fine you from $2500 to $10000 if you don’t file the proper forms. You can even be put in prison for up to a year for the offense.
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