TaxBandits Knowledge Base

What is the difference between Form 940 and Form 941?

The IRS Form 940 is an annual form that employers use to report their Federal Unemployment Tax liability (FUTA). On the other hand, Form 941 is a quarterly form that employers use to report their federal income tax withholding and Federal Insurance (FICA) taxes.

TaxBandits supports the e-filing of both these forms. Sign up with TaxBandits and start transmitting your returns right away!