Download the official IRS PDF file of Form 940 for 2023 the annual federal unemployment (FUTA) tax return for employers This form requires you to report your FUTA tax liability by quarter state and year and to calculate your balance due or overpayment You can also report your FUTA tax by payment type and credit reduction
What is Form 940 used for?
IRS Form 940 is the federal unemployment tax annual report form. This form is used to report and pay unemployment taxes to the IRS. You do not have to deduct these employment taxes from employee pay, but you must set aside amounts for this tax and report it on Form 940. Accordingly, is there a Form 940 for 2019?
What is the 'Form 940' used for?
Simply put, Form 940 is a document the IRS collects from employers annually. The form is designed to help both small businesses and the IRS get on the same page about the Federal Unemployment (FUTA) tax owed. On the form, employers report the wages they paid to full-time and part-time (W-2) employees throughout the year.
General Information Section
At the top of the form, you’ll find a general information section. This is where you’ll need to enter the following: 1. Your business’s Employer Identification Number (EIN) 2. Your business’s legal name 3. Your business’s trade name, if it uses one 4. Your business address In the area designated Type of Return, check off any of the four boxes that
Part 1
In this section, you’ll indicate whether: 1. You’re a single-state employer (i.e., you paid state unemployment tax in only one state) (Line 1a) 2. You’re a multi-state employer (i.e., you paid state unemployment tax in more than one state) (Line 1b) 3. You paid wages to employees in a credit reduction state (Line 2) If you’re a multi-state employer
Part 2
You’ll be calculating your FUTA tax before adjustments in this section. To complete the section, you’ll need to enter: 1. The total amount you paid to all your employees (Line 3) 2. The amount of payments that are exempt from FUTA tax (fringe benefits, group-term life insurance premiums, retirement/pension payments and dependent care payments) (Lin
Part 3
In this section you’ll determine your adjustments: 1. If all of the total taxable FUTA wages you’ve paid (Line 7) were excluded from state unemployment tax, multiply the amount in Line 7 by 0.054, and enter it as Line 9. 2. Otherwise, if only some of the total taxable FUTA wages you paid (Line 7) were excluded from state unemployment tax, or you ma
Part 4
You’ll calculate your FUTA tax in this section: 1. Calculate your total FUTA tax after adjustments by adding Lines 8, 9, 10 and 11. Enter this amount on Line 12. 2. Enter the amount of FUTA tax you’ve deposited for the year (including the overpayment applied from a previous year, if any) on Line 13. Next, you’ll determine whether you have a balance
Part 5
You only need to complete Part 5 if the amount in Line 12 is more than $500. First, enter your FUTA tax liability for each of the first three quarters as follows: 1. Line 16a:First quarter (January 1 to March 31) 2. Line 16b:Second quarter (April 1 to June 30) 3. Line 16c:Third quarter (July 1 to September 30) Note that you need to enter your FUTA
Part 6
In this part, you can give the IRS permission to speak to a third-party designee about Form 940 (for example, an employee or an accountant). To do this, check off Yesand enter your designee’s name and phone number, plus a five-digit personal identification number (PIN). This PIN can be any five-digit number you choose. Your designee will use it whe
Part 7
To complete Form 940, sign the signature box in this part. Add the date in the date field, and include your name, title and the best phone number for the IRS to reach you in the appropriate fields next to the signature box. If you paid a tax preparer(who is not your employee) to complete Form 940 for you, they must fill out and sign the Paid Prepar
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How to Fill Out Form 940 Online PDFRun
How to Fill out IRS Form 940 (FUTA Tax Return)
How to Fill Out Form 940 (FUTA Tax Return)
PDF
2021 Form 940
Form 940for 2021: Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury — Internal Revenue Service. 850113. OMB No. 1545-0028.
PDF
2021 Instructions for Form 940
Instructions for Form 940. Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury. Internal Revenue Service.
PDF
2020 Form 940
Form 940for 2020: Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury — Internal Revenue Service. 850113. OMB No. 1545-0028.
PDF
2021 Schedule A (Form 940)
Schedule A (Form 940) for 2021: Multi-State Employer and Credit Reduction Information. Department of the Treasury — Internal Revenue Service.
PDF
2015 Form 940
Form 940for 2015: Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury — Internal Revenue Service. 850113. OMB No. 1545-0028.
PDF
2014 Form 940
Form 940for 2014: Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury — Internal Revenue Service. 850113. OMB No. 1545-0028.
PDF
2019 Form 940
Form 940for 2019: Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury — Internal Revenue Service. 850113. OMB No. 1545-0028.
PDF
2019 Instructions for Form 940
19 Nov 2019 Instructions for Form 940. Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury. Internal Revenue Service.
PDF
2017 Form 940
Form 940for 2017: Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury — Internal Revenue Service. 850113. OMB No. 1545-0028.
PDF
2016 Form 940
Form 940for 2016: Employer's Annual Federal Unemployment (FUTA) Tax Return. Department of the Treasury — Internal Revenue Service. 850113. OMB No. 1545-0028.
