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It’s Almost Time! FUTA and IRS Form 940

This post was updated in April 2018

IRS Form 940, the Federal Unemployment Tax Return

Switching gears for a bit, we return to a corporate tax forms that’s due very soon – IRS Form 940, the Federal Unemployment Tax Return. Use PDFfiller to fill, print, and return Form 940 for your business today!

What is a Form 940 for?

Form 940 is used to report your annual Federal Unemployment Tax Act (FUTA) tax. The FUTA tax provides funds for paying qualifying workers who have lost their jobs.

Who needs a Form 940?

• Did you pay $1,500 or more to employees in any calendar quarter?
• Did you have any employees for at least some part of a day for 20 or more weeks?

If you answer “Yes” to either one of these questions, you must file Form 940.

If you have household employees such as maids or nurses, AND you answered yes to one of the above, AND you paid your household employees more than $1,000 in cash wages, you may choose to fill out IRS form 940 instead of a 1040 Schedule H.

• Did you pay $20,000 or more to farmworkers during any calendar quarter?
• Did you employ 10 or more farmworkers for at least some part of the day for 20 or more weeks?

If you answer “Yes” to either of these questions, you must file Form 940.

These wages include anything you paid to aliens who were admitted to the United States on a temporary basis. These wages do not count towards your total tax amount, but may qualify you to fill out the form.

Are there exceptions to who needs to fill out a Form 940?

Employees of a federally recognized Indian tribal government employer are exempt from FUTA tax and no IRS Form 940 is required.

Religious, educational, scientific, charitable, and other organizations described in section 501(c)(3) aren’t subject to FUTA tax and don’t have to file Form 940.

Services rendered by state employees are exempt from FUTA tax and no Form 940 is required.

What information do you need when you fill out a Form 940?

The IRS form 940 can require many different pieces of information. It really depends on your tax situation. At the very least, you will need:

1. Your contact information such as phone number, full mailing address, etc.
2. Your business’ tax ID, also known as the Employer ID Number (EIN)
3. Your business’ financial records for the year, including employee wages

Is the Form 940 accompanied by other forms?

According to IRS instructions, if you choose to include household employees on your Form 940, you must also file Form 941, Employer’s QUARTERLY Federal Tax Return; Form 943, Employer’s Annual Federal Tax Return for Agricultural Employees; or Form 944, Employer’s ANNUAL Federal Tax Return; to report social security, Medicare, and any withheld federal income taxes for your household employees.

What else do you need to send with a Form 940?

The IRS form 940 generally does not require any supporting information such as receipts or proof of payment. If the IRS needs any additional information with your tax return, they will request it through mail.

When is a Form 940 due?

Form 940 is due February 1 for this tax season. However, if you deposited all your FUTA tax when it was due, you may file Form 940 by February 12.

How do you fill out a Form 940?

The IRS form 940 can be filled out and filed in many different ways. If you wish, you can fill and print it using PDFfiller out and send it in yourself. For more information on filling in Form 940, check out the following video:

Where do you send a Form 940?

Where you send a physical form depends on whether you include a payment with your return. If you are filing an amended return, send it to the “without a payment” address, even if a payment is included. The addresses for this can be found on the IRS instruction page for form 940 here.



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