How do I file Form 940 in TaxBandits?
4.8k views | Last modified 3/7/2023 2:27:13 AM EST | Added by TaxBandits Team

Applicable To
94X 1099 W-2 ACA W-4

To report your yearly Federal Unemployment Tax Act (FUTA) tax, use Form 940. The FUTA tax, in conjunction with state unemployment tax systems, provides funding for paying unemployment benefits to workers who have lost their jobs.

Here is how you file Form 940.
Choose the Form

  • Sign in to TaxBandits.
  • Click Start New >> Form >> Form 940.
  • Choose the Tax Year for filing Form 944
  • Enter the employer details or pull up from the address book using the search bar.

Enter state details:
If you had to pay state unemployment tax in one state only, Choose the state you are reporting. If you are reporting for multiple states, check the boxes in line 1b. Schedule A for Form 940 will be automatically generated after transmitting and will be available in the Print Center.

FUTA details:
Report the total payments made during the calendar year. Include payments for the services of all employees, even if the payments aren't taxable for FUTA and view the amount before adjustments.

If some or all of your taxable FUTA wages you paid were excluded from state unemployment tax or any of your payments of state unemployment tax were late, you can report here.

If you select the option “Yes”, enter the deposits made this year.
Balance Due/Overpayment:
Here, the deposits made for the reporting year will be shown. 
Enter the overpayment from the prior year. The Balance due / Overpayment is shown.

If you owe any tax to the IRS indicated by the Balance Due field, you can opt for payments through either Electronic Funds Withdrawal (EFW), Electronic Federal Tax Payment System (EFTPS), Credit/Debit Card, Check, or Money Order. 
For more details on the action required at your end for these payment options, click here.
Sign & File:
Sign using your Online Signature PIN received from the IRS and proceed to file the return. In case you don’t have the Online Signature PIN, use Form 8453-EMP to sign the 94x return.  
TaxBandits provides the option to e-sign Form 8453-EMP. You can also download, print, sign, and upload the form in PDF format.
Print a Copy:
Proceed with the flow until you transmit the return.  A copy of Form 940 will now be available in the Print Center. For step-by-step instructions on how to access a copy of the form, click here.

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