Form 940 (FUTA Tax Return)

Uploading and Filing Form 940

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Form 940 Information

Use Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, (or Form 940-EZ) to report your annual Federal Unemployment Tax Act (FUTA) tax. FUTA tax, together with state unemployment systems, provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both federal and state unemployment taxes. Only the employer pays FUTA tax. Do not collect or deduct it from your employees’ wages. The tax applies to the first $7,000 you pay each employee in a year after subtracting any exempt payments. The $7,000 amount is the federal wage base. Your state wage base may be different.

You must file Form 940 if:

You paid wages of $1,500 or more in any calendar quarter in the current tax year or previous tax year.
You had one or more employees for at least some part of a day in any 20 or more different weeks in the previous tax year or 20 or more different weeks in the current tax year.

Filing Deadline

File Form 940 by January 31st. However, if you deposited all FUTA tax when due, you may file on or before February 10th. Your return will be considered timely filed if it is properly addressed and mailed First Class or sent by an IRS-designated delivery service by the due date.

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