Schedule A Form 940 for 2013 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...
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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 (FUTA) tax. Together with state unemployment tax systems, the FUTA 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 FUTA tax. Don't collect or deduct FUTA tax from your employees' wages.

The FUTA tax applies to the first $7,000 paid to each employee during a calendar year after subtracting any payments exempt from FUTA 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 FUTA 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 FUTA Taxable Wages box, enter the total FUTA taxable wages that you paid in that state. (The FUTA wage base for all states is $7,000.) Do not include in the FUTA Taxable Wages box wages that were excluded from state unemployment tax.

Step 3. To calculate the total credit reduction, add up all of 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

Welcome back to another video for harbor for nacho online.com today I'm going to be talking about the form 940 in the instructions and if you're required to fill out this form so I'm going to walk through this video with you guys show you the requirements and see if you need to be submitting this to the IRS and how to fill out the form the right way so I'm going to get the video started so the form the IRS tax form 940 is used to report annual federal unemployment taxes and basically a lot of companies out there are required to fill out this form but don't don't realize that they need to so there's not a whole lot that triggers you to have to fill this out I mean basically if you have employees you are required to fill out the form 940 it provides funds for the unemployment compensation so this goes into a general pool of money for employees out there that become unemployed to pay out those employees to cover that requirement as they're unemployed the unemployment compensation amounts employers don't deduct this from the employee payroll so make sure if you're new to this you're not deducting it from your employee payroll amounts because the employee shouldn't be paying paying any of the cost of this for the when you fill out this 940 the cost that you're going to submit you have to be completely accurate on this form 940 this is something that the IRS make sure that they make sure this is this form is completed as exact as possible so any errors that you make on that form they're going to send it back to so make sure you understand how to fill out the form and you're doing it right at the bottom here you see Harbor financial online com at our site here you can prepare the 9 40 s and other business tax returns directly on the site and learn more about your tax requirements and your filing requirements up by the IRS and whatever state you you are paying tax too so I'm going to continue the video i just wanted to show you the link here at the bottom so its harbor financial online com now what requires you to have to file the 940 if you paid fifteen hundred dollars or more of wages in any calendar quarter you are required from there on to complete the form 940 so again a lot of small businesses out there making this meeting this requirement the 1500 each quarter but aren't filling out the form 940 and IRS is looking a lot closer at this if you had more than one employee and 20 or more weeks again you're required to fill out the 1940 so these are separate from each other so 11 if you just have one of these it's going to trigger that requirement this is another area that can be kind of confusing as far as if you should fill out the 940 if you had household employees in a private home local college fraternity or sorority again you're required to fill out the 940 so you may be running a home business if you have employees come in even if they're part time they're coming in working for you you you probably meet the requirement to have to fill out a form...

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