PDFfiller is not affiliated with IRS
940

Get the 940 2019-2020 form

Enter the total here and on Form 940 line 11. For Privacy Act and Paperwork Reduction Act Notice see the Instructions for Form 940. 60 000 Payments exempt from FUTA tax see the Instructions for Form 940. excess of 7 000 3 x 20 000 - 7 000. Schedule A Form 940 for 2018 860312 Multi-State Employer and Credit Reduction Information OMB No. 1545-0028 Department of the Treasury Internal Revenue Service See the instructions on page 2. Step 3. Total credit reduction To calculate the total credit...
Fill annual 940 reporting: Try Risk Free
Get, Create, Make and Sign schedule a 940
  • Get Form
  • eSign
  • Fax
  • Email
  • Add Annotation
  • Share
Comments and Help with form 940 2019 sample

Who files Schedule A (Form 940)?

An employer must file Form 940 if it

  • paid wages of $1,500 or more to employees in any calendar quarter during 2015 or 2016, or
  • had one or more employees for at least some part of a day in any 20 or more different weeks in 2015 or 20 or more different weeks in 2016. All full-time, part-time, and temporary employees should be counted.

For 2016, there are credit reduction states. If the employer paid any wages that are subject to the unemployment compensation laws of a credit reduction state, its credit against federal unemployment tax will be reduced based on the credit reduction rate for that credit reduction state. The employer uses Schedule A (Form 940) to figure the credit reduction.

If the employer is a multi-state employer, it must check the box on line 1b of Form 940, fill out Schedule A and attach it to your Form 940.

What is the Purpose of Schedule A (Form 940)?

Employers use Form 940 for the purpose of reporting the 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. Don't collect or deduct FUTA tax from your employees' wages.

The FUTA tax applies to the first $7,000 paid to each employee during a calendar year after subtracting any payments exempt from FUTA tax.

When is Schedule A Due?

The due date for filing Form 940 for 2016 including Schedule A is January 31st, 2017. If you deposited all your FUTA tax when it was due, you may file Form 940 until February 10th, 2017.

How do I Fill out Schedule A?

Step 1. Place an “X” in the box of every state where you had to pay state unemployment taxes this year, even if the state's credit reduction rate is zero.

Step 2. In the FUTA Taxable Wages box, enter the total FUTA taxable wages that you paid in that state. (The FUTA wage base for all states is $7,000.) Do not include in the FUTA Taxable Wages box wages that were excluded from state unemployment tax.

Step 3. To calculate the total credit reduction, add up all of the Credit Reduction boxes and enter the amount in the Total Credit Reduction box. Finally, enter the total credit reduction on Form 940, line 11.

Where do I Send Schedule A?

The IRS Instructions for Form 940 contain addresses where you can send Form 940 and Schedule A attached to it. You can find the instructions at https://www.irs.gov/pub/irs-pdf/i940.pdf

Video instructions and help with filling out and completing 940
Instructions and Help about 2019 form 940
in this presentation we will take a look at form 940 which is the employers annual federal unemployment or futa tax return for more accounting information and accounting courses visit our website at accounting instruction dot info here's an example of the form this comes from the IRS website which you can find at irsgov e we got the 1040 currently for 2017 it has the same information up top that we see in the 941 which will include the ein number or the employer identification number name trade and address note over here however even though we have a similar looking box it's not the same as we see on the 940 ones because this is a yearly return rather than a quarterly return so this box includes stuff if we had to amend the returned or some other special circumstances like it's an it's like the last return or something like that then we would select the appropriate items here but this isn't a quarterly return that's the thing we really want to remember here they sound very similar of course one because of the numbers and two because it's a payroll tax form but the 941 is actually the quarterly returns the 940 is the yearly return so it also seems kind of funny that the 940 the thing we do at the end of the year has a number that's before the 940 ones that we do on a quarterly basis note that they're not related in in many different ways the 940 at the end of the year in other words it would be makes sense for us to think that the IRS would want us to make a 940 return 941 return quarterly for four quarters and then rhe sum up that data again in the yearly return in this form the 941 that's not what it's happening however there are actually two different types of taxes that we are dealing with for the 940 one s and a nine forty s in other words really what's happening for the 940 once is it's reporting our main taxes meaning it's reporting fi t federal income tax Social Security for the employee and employee side and Medicare for the employer and employee side so my guess is the reason that we need to record that on a quarterly basis rather than on a yearly basis is because of its significance we're recording the main taxes there the 940 on the other hand which we only have to report at the end of the year is only reporting the futa tax federal unemployment tax which is a much smaller tax so really what's happening here is the IRS is saying hey we're going to give you some pity here and not make you report this on a quarterly basis but instead just on a yearly basis but we do want to see that quarterly taxes for the the FI T Social Security and Medicare so in other words this one winds up closer to what we think of and know of with our personal taxes like the 1040 that we have to file at the end of the year that in is also an information return that we would basically say hey this is how much we owe at the end of the year we should have already paid it and we file that one time...