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Information about Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, including recent updates, related forms and instructions on how to file. Form 940 (or Form 940-EZ) is used by employers to file annual Federal Unemployment Tax Act (FUTA) tax.
Form 940 is the Employer’s Annual Federal Unemployment (FUTA) Tax Return, filed once per year to reconcile unemployment tax obligations and claim state credit reductions.
Form 940 vs Form 941 explained: Learn which employment tax return your U.S. business needs, how often to file each, and what they report.
Form 940 vs. Form 941: What’s the Difference and When to File Each?
Learn about Form 940, FUTA tax, and how to file your business's federal unemployment taxes. Understand filing requirements, tax rates, and state credits.
What is Form 940? A guide to FUTA for 2026 | QuickBooks
Form 940 is different from a similar tax form, Form 941. Form 941 is the Employer’s Quarterly Federal Tax Return, which employers use to report any payroll taxes (like Social Security tax, Federal Income tax, and Medicare) withheld from employees’ paychecks.
Employment tax liabilities include Form 940 -- which is required by the IRS for businesses with employees on payroll. So, what is a Form 940 and why does it matter for your business? Form 940 Defined Every calendar year, each business with employees must file Form 940 to determine the amount of unemployment tax due to the IRS.
Form 940 is the IRS return employers use to report annual FUTA tax liability—6% on the first $7,000 of each employee's wages, reducible to 0.6% with timely state unemployment tax payments. Covers who must file, quarterly deposit thresholds, how to claim the state tax credit, Schedule A for multi-state employers, and penalties for late filing.