Form 940 e-File |

Payroll Tax Forms

940 Form

What is 940?

What is it?

Employers use form 940 to report their annual Federal Unemployment Tax Act (FUTA) tax. FUTA tax applies to the first $7,000 paid to each employee during a calendar year. Along with state unemployment tax systems, FUTA helps provide unemployment compensation to workers who have lost their jobs.

Who needs it?

Employers that answer yes to either one of these questions, must file Form 940

  • Did you pay wages of $1,500 or more to employees in any calendar quarter during previous tax year or prior tax year?
  • Did you employ one or more employees (for any portion of a day) for 20 or more different weeks in previous tax year or 20 or more different weeks in prior tax year? (Count all full-time, part-time, and temporary employees. If your business is a partnership, do not count its partners.)
Who needs 940?

When to File it

Paper filers and e-filers must report form 940 to the IRS by January 31, 2018. However, if you deposited all your FUTA tax when it was due, you may file Form 940 by February 10, 2018.

FUTA taxes must be paid quarterly by the last day of the month following the end of a calendar quarter.

When to file Form 940?
How long will 940 form take?

Electronically filed 940 forms are directly transmitted to the IRS from the system.



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