IRS 940 - Schedule A 2014 free printable template

Schedule A Form 940 for 2014 860312 Multi-State Employer and Credit Reduction Information OMB No. 1545-0028 Department of the Treasury Internal Revenue Service See the instructions on page 2. File this schedule with Form 940. Employer identification number EIN Name not your trade name Place an X in the box of EVERY state in which you had to pay state unemployment tax this year. For each state with a credit reduction rate greater than zero enter the FUTA taxable wages multiply by the...

How to fill out 2014 form 940

How to fill out 2014 Form 940:

1. Obtain a copy of the 2014 Form 940 from the Internal Revenue Service (IRS) website or by requesting it from the IRS.
2. Read the instructions provided with the form carefully to understand the requirements and calculations involved.
3. Gather all the necessary information for completing the form, such as the employer's identification number (EIN), total wages paid to employees, and any adjustments or credits applicable.
4. Start by filling out the employer's identification information, including the name, address, and EIN.
5. Proceed to Part 1 of the form, where you will provide details on the wages paid to your employees during the year. This includes determining if any wages are subject to FUTA tax, and calculating the taxable wages.
6. Move on to Part 2 of the form, which requires you to report any adjustments to the taxable FUTA wages, such as credits and other reductions.
7. Calculate the total FUTA tax due by multiplying the taxable FUTA wages by the current FUTA tax rate, which will be provided in the instructions or on the IRS website.
8. Complete the signature section of the form, certifying that the information provided is accurate and true.
9. Make a copy of the completed form for your records.
10. Finally, submit the 2014 Form 940 to the IRS, either electronically or by mail, depending on the preferred method specified in the instructions.

Who needs 2014 form 940?

1. Employers who had paid wages of $1,500 or more to employees during the calendar year are required to file Form 940.
2. If an employer has any employees who were subject to FUTA tax during the year, they need to fill out Form 940 to report and pay the FUTA tax liability.
3. Form 940 is used by employers to report their annual Federal Unemployment Tax (FUTA) liability, which is used to fund unemployment benefits for workers who have lost their jobs.

• Who files Schedule A (Form 940)?
• What is the Purpose of Schedule A (Form 940)?
• When is Schedule A Due?
• • How do I Fill out Schedule A?
  • Where do I Send Schedule A?

Who files Schedule A (Form 940)?

An employer must file Form 940 if it

• paid wages of $1,500 or more to employees in any calendar quarter during 2015 or 2016, or
• had one or more employees for at least some part of a day in any 20 or more different weeks in 2015 or 20 or more different weeks in 2016. All full-time, part-time, and temporary employees should be counted.

For 2016, there are credit reduction states. If the employer paid any wages that are subject to the unemployment compensation laws of a credit reduction state, its credit against federal unemployment tax will be reduced based on the credit reduction rate for that credit reduction state. The employer uses Schedule A (Form 940) to figure the credit reduction.

If the employer is a multi-state employer, it must check the box on line 1b of Form 940, fill out Schedule A and attach it to your Form 940.

What is the Purpose of Schedule A (Form 940)?

Employers use Form 940 for the purpose of reporting the annual Federal Unemployment Tax Act (FTA) tax. Together with state unemployment tax systems, the FTA tax provides funds for paying unemployment compensation to workers who have lost their jobs. Most employers pay both a federal and a state unemployment tax. Only employers pay FTA tax. Don't collect or deduct FTA tax from your employees' wages.

The FTA tax applies to the first $7,000 paid to each employee during a calendar year after subtracting any payments exempt from FTA tax.

When is Schedule A Due?

The due date for filing Form 940 for 2016 including Schedule A is January 31st, 2017. If you deposited all your FTA tax when it was due, you may file Form 940 until February 10th, 2017.

How do I Fill out Schedule A?

Step 1. Place an “X” in the box of every state where you had to pay state unemployment taxes this year, even if the state's credit reduction rate is zero.

Step 2. In the FTA Taxable Wages box, enter the total FTA taxable wages that you paid in that state. (The FTA wage base for all states is $7,000.) Do not include in the FTA Taxable Wages box wages that were excluded from state unemployment tax.

Step 3. To calculate the total credit reduction, add up all the Credit Reduction boxes and enter the amount in the Total Credit Reduction box. Finally, enter the total credit reduction on Form 940, line 11.

Where do I Send Schedule A?

The IRS Instructions for Form 940 contain addresses where you can send Form 940 and Schedule A attached to it. You can find the instructions at https://www.irs.gov/pub/irs-pdf/i940.pdf

Instructions and Help about 2014 form 940

IRS Form 940 Script Hi everyone, I'm Priyanka Prakash, senior staff writer at Fund era. Today, I'll be showing you how to fill out Form 940: Employer’s Annual Federal Unemployment Tax Return, more commonly called the FTA tax return. You must file this form if you paid $1,500 or more in wages to employees during a calendar quarter of this year or the previous year, or if you employed anyone for at least 20 weeks of the year. This form is due on January 31. However, you get an additional 10 calendar days to file if you deposited all your FTA taxes on time throughout the year. Now, most employers have to pay FTA at the federal level and state unemployment tax. As you’ll soon see, the two are closely related. As a reminder, FTA tax is only paid by employers, so this is not a tax that you would deduct from your employees’ wages. Okay, let's get started with the form. The top of the form is pretty straightforward. You're just going to note down your business contact information, including the EIN, business name, and business address. I'll provide this information for a fictional business called ABC Bakery LLC. If...

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