23 min. Preparing copying assembling and sending the form to the IRS. 1 hr. 36 min. If you have comments concerning the accuracy of these time estimates or suggestions for making Form 940 simpler we would be happy to hear from you. You can send us comments from www.irs.gov/FormComments. Or you can send your comments to Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. NW IR-6526 Washington DC 20224. Don t send Form 940 to this address. Instead see Where Do You...File in the Instructions for Form 940. Box 1 Employer Identification Number EIN. If you don t have an EIN you may apply for one online by visiting the IRS website at www.irs.gov/EIN. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. If you haven t received your EIN by the due date of Form 940 write Applied For and the date you applied in this entry space. Form 940 for 2018 Employer s Annual Federal Unemployment FUTA Tax Return Department of the Treasury Internal Revenue...Service Employer identification number EIN 850113 OMB No. 1545-0028 Type of Return Check all that apply. Name not your trade name a. Amended Trade name if any b. Successor employer c. No payments to employees in d. Final Business closed or stopped paying wages Go to www.irs.gov/Form940 for instructions and the latest information. Address Number Street Suite or room number City ZIP code State Foreign country name Foreign postal code Foreign province/county Read the separate instructions before...you complete this form. Please type or print within the boxes. Don t staple Form 940-V or your payment to Form 940 or to each other. Detach Form 940-V and send it with your payment and Form 940 to the address provided in the Instructions for Note You must also complete the entity information above Part 1 on Form 940. See When Must You Deposit Your FUTA Tax in the Instructions for Form 940. Also see sections 11 and 14 of Pub. 15 for more information about deposits. Use Form 940-V when making any...payment with Form 940. However if you pay an amount with Form 940 that should ve been deposited you CAUTION may be subject to a penalty. If your total FUTA tax after adjustments Form 940 line 12 is more than 500 you must make deposits by electronic funds transfer. Name not your trade name a* Amended Trade name if any b. Successor employer c* No payments to employees in d. Final Business closed or stopped paying wages Go to www*irs*gov/Form940 for instructions and the latest information* Address...Number Street Suite or room number City ZIP code State Foreign country name Foreign postal code Foreign province/county Read the separate instructions before you complete this form* Please type or print within the boxes. Part 1 Tell us about your return* If any line does NOT apply leave it blank. See instructions before completing Part 1. 1a If you had to pay state unemployment tax in one state only enter the state abbreviation. 1b employer. Part 2. Determine your FUTA tax before adjustments. If...any line does NOT apply leave it blank. Total payments to all employees.
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Instructions and Help about IRS 940
How to edit IRS 940
How to fill out IRS 940
Instructions and Help about IRS 940
How to edit IRS 940
Editing IRS Form 940 can be necessary if you’ve made a mistake on the form after submission. To edit the form, you can either download a blank copy of IRS Form 940 from the IRS website or utilize online tools such as pdfFiller to make prompts for corrections. Ensure that any changes comply with IRS guidelines before resubmission.
How to fill out IRS 940
Filling out IRS Form 940 requires accurate information reflecting your employment taxes. Begin by entering your business details, including your employer identification number (EIN) and business name. Next, report the total taxable wages paid to employees and any adjustments. Remember to follow the instructions specific to each line item for accurate completion.
About IRS previous version
What is IRS 940?
IRS Form 940 is the Employer’s Annual Federal Unemployment (FUTA) Tax Return. This form is used by employers to report their federal unemployment tax liability on an annual basis. Employers must file this form to indicate how much FUTA tax they owe based on their employees' wages.
Who needs the form?
Employers who paid wages of $1,500 or more in any calendar quarter or employed at least one worker for some portion of a day in any 20 or more weeks during the current or preceding year must file IRS Form 940. Non-profits and government employers are also required to file this form regardless of the wage amount.
Components of the form
IRS Form 940 comprises several sections requiring specific information. Key components include the employer's identification information, total FUTA wages, state unemployment tax, and any adjustments or credits applicable. Employers must complete each section accurately to avoid penalties.
What are the penalties for not issuing the form?
Failure to file IRS Form 940 can result in penalties of up to 5% of the unpaid tax per month, up to a maximum of 25%. In addition, interest may accrue on any amounts owed. Employers may also face additional consequences from state unemployment agencies if appropriate filings are not made.
Is the form accompanied by other forms?
IRS Form 940 is generally filed independently; however, you may need to accompany it with supporting documents or forms if claiming certain credits or adjustments. Make sure to review the form instructions for any additional requirements applicable to your business situation.
What is the purpose of this form?
The purpose of IRS Form 940 is to help the IRS collect revenue for unemployment compensation benefits for workers who are unemployed through no fault of their own. This form ensures that employers pay the necessary taxes that fund these benefits, which are distributed at the state level.
When am I exempt from filling out this form?
You are exempt from filing IRS Form 940 if your business does not meet the wage thresholds mentioned earlier. Additionally, businesses that only employ family members or are classified as certain types of agricultural businesses may have exemptions. Always verify with IRS guidelines to confirm your eligibility for exemption.
Due date
The due date for filing IRS Form 940 is January 31st of the year following the reporting year. If you owe taxes, payment is also due by this date. Ensure timely submission to avoid interest and penalties associated with late filings.
What information do you need when you file the form?
When filing IRS Form 940, you’ll need your employer identification number (EIN), total taxable wages paid to employees, any state unemployment tax information, and credit information for tax payments made. Gather this data beforehand to ensure accurate completion of the form.
Where do I send the form?
IRS Form 940 should be sent to the address specified in the IRS instructions for the form. The mailing address may vary based on whether the employer is making a payment with the return. Double-check the specific instructions to ensure correct submission.
FAQ about IRS 940
What should I do if I realize I've made a mistake on my IRS 940 after submitting it?
If you find an error on your IRS 940 after submission, you need to file an amended return using Form 940-X. This allows you to correct previous mistakes and ensure accurate reporting. Make sure to clearly indicate the corrections made in the appropriate sections.
How can I track the status of my IRS 940 after I have filed it?
To track the status of your IRS 940, you can use the IRS 'Where's My Refund?' tool if you filed an amended return. Regular returns can be verified through the IRS Customer Service. Keep an eye out for any e-file rejection codes if applicable, as these require immediate attention.
Are there any penalties for e-filing my IRS 940 incorrectly?
Yes, if you submit your IRS 940 electronically and it is rejected or contains errors, you may face penalties. It's critical to verify that all information is accurate before submission to avoid these costs. Consult IRS guidelines for specific details on service fees and potential penalties.
Can I use someone else's information to file an IRS 940 on their behalf?
Yes, if you are authorized through a power of attorney (POA), you can file an IRS 940 for someone else. Ensure all necessary permissions and documentation are in place to avoid any complications during the filing process.
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Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
