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IRS Form 940: Printable PDF

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940 Tax Form: Guide for Employers

IRS Form 940 is an annual federal tax form used to report the employer's annual Federal Unemployment Tax Act (FUTA) tax. This form is important as it helps employers accurately report their FUTA tax liabilities and helps ensure they are compliant with federal tax regulations. It is also used to calculate the employer's FUTA tax credits. Filing Form 940 correctly and accurately is essential for employers to comply with federal tax laws.

Filing IRS Form 940 for the 2022 tax year can be daunting for employers, but thankfully, there is help. Our website 940-form.net provides detailed instructions and samples to help employers fill out and file Form 940 in 2023. Our website makes filing Form 940 as easy and stress-free as possible.

Who Must File the 940 Form

The IRS requires employers to fill out the 940 form if they have paid wages of more than $2,500 in a calendar year. The employers must print and mail the completed 940 form to the IRS. A blank template, Form 940 instructions, and a sample PDF are available online. Or, employers can fill out a printable version of the form.

For example, Jeff is a self-employed contractor who hired several employees in 2023. As he has paid wages of more than $2,500, he must fill out and submit the 940 form to the IRS. He has to print the form, fill it out and mail it to the federal government.

Another example is Sandra, a small business owner who paid wages to her employees above $2,500 in 2023. She has to fill in the 940 form and submit it to the IRS. She has the option to either print the blank template of the form and fill it out or download a printable 940 form with instructions and a sample PDF.

How to Fill Out the 940 Form Correctly in 2023?

Filling out the federal 940 tax form can be a challenging task. However, there are a variety of helpful resources to make the process easier. You can find a printable version of the 940 form, a fillable version, or even a sample form to help you get started. Additionally, the IRS website offers detailed instructions on how to complete the form correctly. Here is a checklist of the information needed to fill out tax form 940 for 2022:

Requested Information

  • Printed or a filable blank form 940
  • Social Security number
  • Company name
  • Employer identification number
  • Total wages paid
  • Total federal taxes withheld
  • Name of the company officer
  • Online filing option (if applicable)
  • Sign and date the form

Forms Related to 940

  • The 941 form, also known as the Employer's Quarterly Federal Tax Return, is used by employers to report their quarterly wages and taxes. This form reports the total sum of the wages that were paid to employees, taxes withheld, and the employer's share of Social Security and Medicare taxes. Employers are required to file a 941 Form for each calendar quarter in which they have employees.
  • The 944 form, also known as the Employer's Annual Federal Tax Return, is usually used by employers to report their annual taxes. This form reports the total wages paid to employees, taxes withheld, and as in the 941 form - the employer's share of Medicare taxes and Social Security. Employers with a low annual tax liability may be eligible to file this form instead of the 941 Form.
  • The 945 form, also known as the Annual Return of Withheld Federal Income Tax, is used by U.S. employers to report the annual withholding of federal income tax from non-payroll payments such as rental payments. This form is used to report the total amount of taxes withheld from these types of payments and the name and TIN of the payee. Employers must file a 945 Form for each tax year in which they have made non-payroll payments and withheld federal income tax.
  • The W-3 form, also known as the Transmittal of Wage and Tax Statements, is used by employers to transmit the information from the 940 Form (Employer's Annual Federal Unemployment (FUTA) Tax Return) to the Social Security Administration. This form reports the total amount of the wages paid to employees and taxes withheld during the year. Employers are required to file a W-3 Form for each calendar year in which they file a 940 Form.

Ways to File the 940 Form

U.S. taxpayers have two main options when filing taxes: a printable PDF and a fillable Form 940 template.

  • The printable blank 940 form is a federal form provided by the Internal Revenue Service (IRS). It is a PDF document that can be printed and filled in by hand. It is recommended to use it when you don't need to make any calculations because the form is not interactive. This form is suitable for those unfamiliar with the software or who don't have the necessary programs to file Form 940 online.
  • On the other hand, the fillable PDF template is an interactive form that can be completed online and saved. This type of form is suitable for those who are familiar with the software and can make calculations. It is also handy for those who need to make many changes to the form, since it can be easily edited. Plus, the fillable PDF template is typically easier to submit online than the printable blank 940 form.

Due Date & IRS Penalties

The due date for filing the IRS 940 form is January 31st every year. This form reports federal unemployment taxes due to the Internal Revenue Service (IRS). Paying attention to the due date is essential, as the IRS may impose penalties for late payments.

The IRS may charge the taxpayer a penalty of 5% of the unpaid tax for each month the payment is late, up to a maximum of 25%. The form is available online and in printable format and comes with a sample and instructions. All the taxpayer needs to do is fill out the form, either online or print it out and fill it in manually. Filing the form online is the most recommended method, enabling taxpayers to complete and submit the form faster and more conveniently.

Frequently Asked Questions

  • How do I file my IRS Form 940?
    To file your IRS Form 940, you must first complete the form with the necessary information and calculations. Once completed you can file the form either electronically or by mail. To file electronically, you can visit the IRS website and use their online tools to submit the form. Alternatively, you can print the form and mail it to the IRS. It is important to ensure that the form is completed correctly and signed before submitting it.
  • Is it possible to get Form 940 as PDF?
    Yes, you can download a blank template from the IRS website and print the 940 form. The blank template includes all the necessary fields and sections you must fill out and can be used as a guide to help you complete the form. You can also find a fillable PDF form on the IRS website.
  • Can I find instructions on how to fill out the IRS Form 940?
    Yes, the Form 940 example and instructions are available on the IRS website and guide the information that must be provided and the calculations that must be made. Additionally, there are step-by-step instructions that explain how to complete the form.
  • Is it possible to file the IRS Form 940 online?
    Yes, there is an option to file the 940 tax form online. The IRS offers an online tool for filing the form, which can be accessed through their website. This online tool allows you to submit the form directly to the IRS without printing and mailing it.
  • Is the IRS Form 940 the same for all federal taxes?
    No, the IRS 940 Form is different for all federal taxes. It is only used for federal unemployment taxes and must be completed and filed separately for each type of tax. Additionally, the form must be completed following the instructions provided by the IRS, which vary depending on the type of tax.
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Form 940 Versions

  • image Form 940 Printable The 940 Form, also known as the Employer's Annual Federal Unemployment (FUTA) Tax Return, is a form used by employers to report their annual federal unemployment taxes. This form is used to report the total amount of wages paid to employees and the employer's share of the FUTA tax. It must be filed... Fill Now
  • image Form 940 Online The 940 Form, also known as the Employer's Annual Federal Unemployment (FUTA) Tax Return, is a form used by employers to report their annual federal unemployment taxes. This form is used to report the total amount of wages paid to employees and the employer's share of the FUTA tax. The form must be... Fill Now