Making Payments With Form 940 To avoid a penalty make your payment with your 2015 Form 940 only if your FUTA tax for the fourth quarter plus any undeposited amounts from earlier quarters is 500 or less. Form 940 for 2015 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. Print your name here Sign your Date title here / Best daytime phone...
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Who needs IRS Form 940?

IRS Form 940 or the Federal Unemployment Tax Return should be filled out by the business owner who has paid $20,000 or more to the employees during any calendar year quarter. Or it's a business owner who has hired 10 either part-time or full-time employees during 20 weeks of the year.

Indian tribal government employer doesn't have to fill out form 940 since no tax is applied. The organizations that belong to charity, education or scientific sphere don't have to fill out form 940.

What is IRS Form 940 for?

First of all, form 940 serves to define the employer's federal unemployment tax liability. Once this is done, the form calculates the amount of unemployment tax due. Another important function of the form is that it compares the paid tax and defines the amount of underpaid tax that an employer should compensate.

Is IRS Form 940 accompanied by other forms?

According the IRS rules, if you 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. These forms serve to report social security, Medicare, and any withheld federal income taxes for your household employees.

In general, the IRS form 940 does not require any attachments such as receipts or proof of payment.

When is IRS Form 940 due?

The due date of the form 940 is January 31, 2017. Pay attention that this form report unemployment tax for the previous year. The deadline can be moved to the next business day if January 31 is a weekend or a legal holiday.

How do I fill out IRS Form 940?

The IRS form 940 requires much information. It may vary depending on your tax status but the obligatory fields to complete are:

  • contact information

  • business tax ID, also known as EIN

  • business annual financial records

Look through the form and watch the video to get more information about how to fill out the form and what fields are necessary to complete.

Where do I send IRS Form 940?

The address where you will file form 940 depends on whether you include a payment check. See the IRS instructions to define where to send your form.

Video instructions and help with filling out and completing 2015 940 form
Instructions and Help about form 940 2015

Hi welcome to easy payroll guide my name is Karen Hutchinson and in this video we're going to be completing the IRS form 940 this is the federal unemployment tax that is owed at the end of each year it's also known as futa which is the federal unemployment tax act we are going to complete the IRS 940 using a fictitious example this example kind of piggybacks off of the example that I did in my earlier video at the beginning of this page as we were calculating the food a liability we have three employees in this business and the employees are all paid wages that are taxable for food a' employee a is a resident of Maryland and has been paid a total wage of $16,000 employee B is a resident of Maryland as well and has been paid wages of $13,000 an employee's C is a resident of Delaware and has been paid total wages of $8,000 this is a total of 37 thousand dollars paid and wages I wanted to give you an example of a multi-state 940 as well so that's why I have one employee here who is a resident of Delaware so this means that the employer would be playing state unemployment taxes to Maryland and to Delaware for its respective employees so what this means is that I owe as the employer food or wages on the first twenty one thousand dollars because each of my employees have met the minimum requirement of or the maximum requirement of seven thousand so Fuda is paid on the first seven thousand dollars in wages for each employee since they all made over seven thousand dollars I'm responsible for paying the full amount of food a wage for each employee so that's twenty one thousand dollars seven thousand times three employees I have excess wages of sixteen thousand dollars if I take my total wages thirty-seven thousand and subtract my food Oh ages which is 21 thousand you'll see that I've paid excess wages of sixteen thousand these are the amount of wages that are not subject to food attacks because they these are the wages that are over the seven thousand dollar threshold for each employee so we're going to use this information to complete the IRS form 940 now the beginning of the 940 the top portion is your business information you would complete this with all of the information for your particular business and you won't really probably need to check anything in this box unless you're amending or you're completing closing your business and this is your final 940 if you did not make any payments to employees and you still need to file this return and you'll want to check box C so we're going to start with Part one and Part one says that if you had to pay state unemployment tax in only one state then you would enter the state abbreviation and 1a so if all of my employees were from Maryland then I would enter MD for Maryland's here but since I have an employee from Delaware I am considered a multi-state employer so that means that for line B I'm gonna check the box because I'm a multi-state employer which means that I've employed employees from more than one...

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Please select a version for Fillable IRS 940 form
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  • 2017 IRS 940 Fillable
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