TaxBandits Knowledge Base

What are the different types of businesses that need to file the 94x form series?

The 94x form series includes forms 940, 941, 943, 944, and 945. These are typically associated with different types of employers and their specific tax responsibilities. Here's a brief overview of which types of businesses or entities may need to file these forms:

• Form 940 (Employer's Annual Federal Unemployment Tax Return):

All employers, regardless of their business type, must file Form 940 annually to report and pay federal unemployment tax (FUTA) if they meet certain criteria:

1. Paid wages of at least $1,500 to any employee during the standard calendar year.
2. Had an employee (temporary, part-time, or full-time) work anytime during 20 or more weeks. The 20 weeks do not need to be consecutive.

However, it is important to note that businesses are still responsible for filing Form 940 to state that they didn’t make employee payments, even if they normally have employees but didn’t pay them during a particular calendar year.