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
To edit IRS 940, first download the form from the IRS website or obtain it from the relevant tax authority. You can use pdfFiller's tools to fill in the necessary information or make corrections to an existing form. After editing, ensure all information is accurate and complete before saving or printing the document for submission.
How to fill out IRS 940
To fill out IRS 940, follow these steps:
01
Obtain a copy of the IRS 940 form from the IRS website or through tax preparation resources.
02
Complete the form by entering your business's identification information, such as name, address, and Employer Identification Number (EIN).
03
Indicate the amount of Federal Unemployment Tax Act (FUTA) tax owed based on your payroll.
04
Review the entries for accuracy before proceeding to sign and date the form.
About IRS previous version
What is IRS 940?
IRS 940 is the Employer's Annual Federal Unemployment (FUTA) Tax Return. This form is required for employers to report and pay federal unemployment taxes. It helps the IRS track how much FUTA tax is owed by an employer for the year.
Who needs the form?
Any employer who pays wages of $1,500 or more in any calendar quarter or has at least one employee for some part of a day in any 20 or more weeks during the year must file IRS 940. This includes businesses in various industries as well as some tax-exempt organizations.
Components of the form
The components of IRS 940 include fields for the employer’s identification information, tax calculation details, and declarations regarding liability and payments. The form also includes spaces for reporting adjustments to the previous year’s tax, if applicable.
What information do you need when you file the form?
When filing IRS 940, you will need your Employer Identification Number (EIN), total taxable FUTA wages, and any applicable credits. It is also useful to have records of payments made throughout the year to consolidate your tax liability accurately.
Is the form accompanied by other forms?
IRS 940 may be accompanied by Schedule A (Form 940), which must be included if you are adjusting your FUTA tax for state unemployment tax credits or if you have made payments for state unemployment tax. This helps provide a comprehensive view of your tax liability.
What is the purpose of this form?
The purpose of IRS 940 is to determine and report the amount of federal unemployment tax that an employer must pay. Employers use this form to report their annual FUTA tax liability and to make any necessary payments to the IRS. It serves as an important tool for maintaining compliance with federal regulations regarding unemployment taxes.
When am I exempt from filling out this form?
Exemptions from filing IRS 940 apply to employers that do not meet the wage or employee count thresholds for the year. Additionally, certain government entities and non-profit organizations may also be exempt from FUTA tax requirements. It is important to consult IRS guidelines to determine specific exemption criteria.
What are the penalties for not issuing the form?
Not filing IRS 940 by the due date can result in penalties. The IRS may impose a penalty for late filing of 5% of the unpaid tax for each month the return is late, up to a maximum of 25%. Additionally, employers may face interest charges on unpaid taxes. Failing to file the form even after a notice from the IRS may lead to further legal consequences.
Where do I send the form?
After completing IRS 940, send the form to the address specified in the instructions based on your business's location. Different states may require submission to different processing centers, so it is critical to verify the correct mailing address based on the latest IRS guidance.
FAQ about IRS 940
What should I do if I realize I've made a mistake on my IRS 940 after filing?
If you discover an error on your IRS 940 after submission, you should file an amended return using Form 940-X. This allows you to make corrections without facing penalties for the original error. Ensure that you provide a detailed explanation for the corrections made to facilitate the processing of your amendment.
How can I verify the status of my IRS 940 submission?
To check the status of your IRS 940, you can use the IRS's online tools or contact their helpline. Keep your details ready, including the employer identification number, to assist with your inquiry. Tracking is important to confirm that the IRS has received and is processing your filing.
Are there specific errors commonly seen on IRS 940 filings that I should be cautious of?
Yes, common errors on IRS 940 filings include incorrect wage amounts, misclassification of employees, and missing signatures. Being attentive to these details can help you avoid rejections or delays in processing your IRS 940 submission.
What's the best way to maintain security and privacy while filing the IRS 940 electronically?
To ensure security when e-filing your IRS 940, use reputable tax software that offers robust encryption and data protection features. Verify that your internet connection is secure and avoid using public Wi-Fi when submitting sensitive tax documents to minimize the risk of data breaches.
What should I know if I'm filing an IRS 940 on behalf of someone else?
When filing an IRS 940 on behalf of another individual or entity, ensure you have proper authorization, such as a Power of Attorney (POA). This documentation allows you to act on their behalf legally and can simplify processing when you submit the return.
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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.
