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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.

The following is NOT earned income: retirement income, Social Security, unemployment benefits, alimony, and child support. You must have $10,000 or less in investment income. You must not file any foreign earned income exclusion form.

If you didn't qualify for a third Economic Impact Payment or got less than the full amount, you may be eligible to claim the 2021 Recovery Rebate Credit when you file your 2021 tax return. You must file a return to claim the credit, even if you don't usually file a tax return.

You may claim a 2021 Recovery Rebate Credit for the qualifying dependent, if you're eligible, on your 2021 tax return that you will file in 2022. To claim a person as a dependent on your tax return, that person must be your qualifying child or qualifying relative.

In 2021, the credit is worth up to $6,728. The credit amount rises with earned income until it reaches a maximum amount, then gradually phases out. Families with more children are eligible for higher credit amounts. You cannot get the EITC if you have investment income of more than $10,000 in 2021.

Department of the Treasury Internal Revenue Service; Ogden, UT 84201-0005?this address is used for any business that wishes to file without a payment attached. Internal Revenue Service PO Box 37941; Hartford, CT 06176-7941?this address is for businesses that wish to include a payment with their 941 tax form.

As an employer, if you have not paid your employees any wages for the quarter, your tax amount will automatically be zero. Even if your tax amount is zero, the IRS expects you to file your Form 941. There is no need to waste your time entering zeros throughout your Form 941.