Get 2007 Form 940 - Internal Revenue Service

Filling out the 2007 Form 940 - Internal Revenue Service online is a straightforward process that helps employers report their federal unemployment tax responsibilities. This guide provides clear steps for completing the form accurately and efficiently.

Follow the steps to fill out the form correctly.

1. Press the ‘Get Form’ button to access and open the 2007 Form 940 in your preferred format.
2. Complete the Employer Identification Number (EIN) field, entering your unique number assigned by the IRS.
3. Fill out the 'Type of Return' section by checking all applicable boxes for your situation, indicating if it is an amended return, if you are a successor employer, or if you stopped paying wages.
4. Provide your name, trade name (if applicable), and address details including street, city, state, and ZIP code.
5. In Part 1, specify your state unemployment tax information as required, skipping lines as instructed for 2007.
6. Move to Part 2, starting with total payments made to employees. Enter the amounts in the relevant fields as applicable.
7. Continue filling out sections regarding payments exempt from FUTA tax, capturing any applicable fringe benefits or other exemptions.
8. Calculate the total taxable FUTA wages and FUTA tax before adjustments by following the calculations as directed on the form.
9. Advance to Part 3 to determine your adjustments, making sure to complete the worksheet mentioned in the instructions if needed.
10. In Part 4, calculate total FUTA tax after adjustments, suggesting any balance due or overpayment as described in the relevant fields.
11. If your FUTA tax exceeds $500, complete Part 5 by reporting your tax liability for each quarter of the year.
12. Decide if you want to authorize a third-party designee to discuss this return with the IRS, completing that section if applicable.
13. Sign and date the form as required in Part 7, ensuring both pages of the form are filled out and appropriate fields are completed.
14. Finally, review your entries for accuracy, and choose to save changes, download, print, or share the completed form.

Complete your 2007 Form 940 online today to ensure compliance and avoid potential penalties.