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All employers, including employers in Puerto Rico and the U.S. Virgin Islands, have the option to file new Form 940 (sp) for tax year 2023. Form 940-PR is no longer available to file for tax years beginning after December 31, 2022. Electronically filing an amended Form 940.
Be sure to enter your EIN, “Form 940,” and “2023” on your check or money order. Don’t send cash. 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 Form 940.
If you’re an employer who’s required to pay federal unemployment tax, you’ll need to complete and file a Form 940 with the IRS every year. In this guide, we’ll give you an overview of ...
Form 940 Instructions. IRS Form 940 reports your federal unemployment tax liabilities for all employees in one document. Employers must submit the form to the IRS by January 31 of each year if they qualify. And now, here’s how to fill out FUTA tax forms.
Unlike your FUTA payments, which are due every calendar quarter, you must submit Form 940 annually. The due date for filing Form 940 for 2023 is January 31, 2024. (However, if you’re up to date on all your FUTA payments, you can take an additional ten days and file Form 940 by February 10, 2022.)
The instructions for Form 940 indicate that a Spanish version of the 2023 ... Final versions of the 2023 federal unemployment tax return, its instructions, and one of its schedules were released Dec. 5 by the Internal Revenue Service.
Instructions to Fill Out Form 940. This document offers a comprehensive guide for employers on how to accurately complete Form 940, the Employer's Annual Federal Unemployment (FUTA) Tax Return, for the year 2023.
Form 940 is an IRS document filed by employers once a year to report their Federal Unemployment Tax Act (FUTA) tax liability. Unlike other federal payroll taxes — such as Medicare and Social Security — FUTA taxes are only paid by the employer and not deducted from employees' wages.
What is IRS Form 940? Employers use Form 940 to report the employer’s 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.
Here's more information. Payroll taxes include federal income, Social Security, Medicare, unemployment, and state and local taxes. IRS Form 940 is the employer’s annual federal unemployment tax return, filed separately from the Form 941 employer’s quarterly tax returns.