Get Schedule A (Form 940) For 2013: 860312 Multi-State Employer And Credit Reduction Information OMB No

Use Schedule A (Form 940) to figure your annual Federal Unemployment Tax Act (FUTA) tax for states that have a credit reduction on wages that are subject to the unemployment compensation laws.

Use Schedule A (Form 940) to figure your annual Federal Unemployment Tax Act (FUTA) tax for states that have a credit reduction on wages that are subject to the unemployment compensation laws.

You must use Schedule A (Form 940) if you paid wages to employees in more than one state or if you paid wages in any state that's subject to credit reduction.

IRS Form 940 reports an employer's unemployment tax payments and calculations to the IRS. The form is required if you paid wages of $1,500 or more to employees in a calendar quarter, or if you had one or more employees for part of a day in any 20 or more different weeks in the last two years.

So, the key difference between Form 940 and 941 is that Form 940 reports FUTA tax, which is paid entirely by the employer, whereas Form 941 reports withholding and shared taxes that are split between the employee and employer.

The due date for filing Form 940 for 2019 is January 31, 2020. However, if you deposited all your FUTA tax when it was due, you may file Form 940 by February 10, 2020.

A state that has not repaid the money it borrowed from the federal government to pay their unemployment benefits constitutes a credit reduction state. These states are subject to a reduction in the credit for unemployment taxes that can be applied to the overall federal unemployment taxes credit on the IRS Form 940.

Use Form 940 to report your 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. Most employers pay both a federal and a state unemployment tax. Only employers pay FUTA tax.

Form 940 reports the amount of Federal Unemployment Tax (FUTA) an employer must pay. Employers who've paid $1,500 or more to any W-2 employee OR had at least 1 employee for 20 or more weeks of the year must file Form 940.

You must use Schedule A (Form 940) if you paid wages to employees in more than one state or if you paid wages in any state that's subject to credit reduction.