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Schedule A (Form 940)

August 1, 2012 Category :IRS Form 940 Off

If you are an employer and you paid wages in more than one state you will have to fill out Schedule A (Form 910).  You simply check the box next to each state in which you paid wages.  It’s quite simple unless you paid wages in a Credit Reduction State.

If you look at Schedule A (Form 910) you’ll see each state listed, with three boxes after each state.  The first box is a blank field…you don’t need to fill it in unless the second box has a number greater than zero.

If the second box has a number that is not .o0o, then you will have to write something in the first box: the amount of FUTA taxable wages you paid.  Then you will multiply the two boxes and write than answer in the third box.

The point of Schedule A (Form 910) is to see if you are really entitled to your  FUTA credit.  If you check a box in a state that owes money to the Federal government, then your FUTA credit gets reduced…that’s unfortunate!  The states that owe money are the ones on Schedule A (Form 910) that have a number greater than zero in that second column.


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What is the IRS Form 940?

May 19, 2012 Category :IRS Form 940 Off

Who Has to file the irs form 940?

The IRS form 940 is a required form for any business that has employees.  If you own a business and you pay wages to your employees then you have to file IRS form 940 once a year.  That goes for people who hire domestic help as well (people who work in your home).  If a college club, sorority, fraternity or any other type of private home employs help in that house, then IRS form 940 is required.


IRS form 940 is used for reporting and paying Federal Unemployment tax. This pays for our unemployment system, which compensates people who have lost their jobs.  The Federal Unemployment system, together with the individual states’ unemployment systems, cover the part of the population who have lost their jobs.  IRS form 940 covers the federal portion, which is funded by employers only.  Employers do not take FUTA tax out of their employees’ paychecks.

The Federal unemployment tax rate is currently at 6.0% although it changed halfway through 2011, down from 6.2%.

Filw and Pay IRS Form 940 Electronically

You can pay your Federal Unemployment tax by credit card online after you have e-filed at IRS.gov.

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