FUTA Taxes for Household Employees

Documents included in the FUTA Taxes for Household Employees forms package: 940, 941, 943 and other forms
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The documents you get with the FUTA Taxes for Household Employees forms package

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Forms description

Use Form 940 to report your 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.

More In Forms and Instructions Employers use Form 941 to: Report income taxes, social security tax, or Medicare tax withheld from employee's paychecks. Pay the employer's portion of social security or Medicare tax.

A form an agricultural employer files with the IRS each year to report income and FICA taxes it withholds from its employees. The form lists federal income tax, Social Security and Medicare withholdings paid during the course of the year.

IRS Form 944 Explained IRS Form 944 is the Employer's Annual Federal Tax Return. The form was introduced by the IRS to give smaller employers a break in filing and paying federal income tax withheld from employees, as well Social Security and Medicare payments owed by employers and employees.

FUTA Taxes for Household Employees FAQs

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So, the key difference between Form 940 and 941 is that Form 940 reports FUTA tax, which is paid entirely by the employer, whereas Form 941 reports withholding and shared taxes that are split between the employee and employer.
Information you report on Form 941 includes wages paid to employees, reported tips, federal income taxes withheld, Social Security and Medicare taxes (both employee and employer portions), and additional taxes withheld.
Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, is a form agricultural employers use to report taxes withheld from employees' wages. Form 943 reports taxes such as federal income tax, Social Security tax, and Medicare tax.
Use Form 941, Employer's Quarterly Federal Tax Return, to report wages and taxes four times per year. Employers use Form 944, Employer's ANNUAL Federal Tax Return, to report wages and taxes once per year. The IRS decides which form you must use to report.
What's the major difference between IRS W-2 vs W-4 forms? A W-4 form is completed by the employee and used by employers to calculate how much income tax to withhold. The purpose of the W-2 form is to report how much the employee was paid over the past year and how much tax was withheld.
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