Get the free Schedule A Form 940 For 2012 Instructions

Schedule A Form 940 For 2012 Instructions This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is Schedule A (Form 940) instructions or visit IRS.gov. Reminders.

How to fill out schedule a form 940

How to fill out schedule a form 940

1. To fill out Schedule A Form 940, follow the steps below:
2. Start by entering your business name, address, and employer identification number (EIN) at the top of the form.
3. Indicate the tax year for which you are filing the form.
4. Provide information about your payroll tax liability by reporting your total payments to all employees, including wages, tips, and other compensation.
5. Determine if you are eligible for any federal credit reductions. If applicable, enter the total amount of credit reduction for each credit claimed.
6. Calculate your adjusted FUTA tax liability by subtracting any credit reduction from your total tax liability.
7. Enter any deposits made during the tax year, including any overpayment from a prior year.
8. Determine if you owe any additional tax or if you are entitled to a refund. The form provides a worksheet to help with this calculation.
9. Sign and date the form before submitting it to the IRS.
10. Remember to keep a copy of the completed Schedule A Form 940 for your records.

Who needs schedule a form 940?

1. Schedule A Form 940 is needed by employers who are liable for paying federal unemployment tax (FUTA).
2. You need to file this form if you paid wages of $1,500 or more to employees during any calendar quarter in the current or previous year, or if you had one or more employees for at least some part of a day in any 20 or more different weeks in the current or previous year.
3. Some exceptions apply, so it is advisable to consult the instructions provided by the IRS or seek professional assistance to determine if you need to file Schedule A Form 940.

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What is schedule a form 940?

Schedule A (Form 940) is used by employers to report any undeposited federal unemployment (FUTA) tax liability.

Who is required to file schedule a form 940?

Employers who have paid wages of $1,500 or more in a calendar quarter, or who have had one or more employees for at least some part of a day in any 20 or more different weeks in the current or preceding calendar year, are required to file Schedule A (Form 940).

How to fill out schedule a form 940?

To fill out Schedule A (Form 940), employers must report their FUTA tax liability based on the wages paid to employees in the previous calendar year. They must also report any adjustments and calculate their total FUTA tax liability.

What is the purpose of schedule a form 940?

The purpose of Schedule A (Form 940) is to report any undeposited FUTA tax liability and calculate the total FUTA tax owed by the employer for the previous calendar year.

What information must be reported on schedule a form 940?

Employers must report their FUTA tax liability based on the wages paid to employees in the previous calendar year. They must also report any adjustments, such as a reduction in FUTA tax liability due to state unemployment tax credits.