Form 940-EZ (Annual Report)
Filing Form 940-EZ
IRS no longer supports Form 940-EZ for e-filing
Form 940-EZ Information
Use 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.
Form 940-EZpin_application_940_941 is a simpler version of Form 940. You may use Form 940-EZ instead of Form 940 to report your annual FUTA tax if:
- You paid unemployment contributions to only one state,
- You paid all state unemployment contributions by January 31st (February 10th, if you deposited all FUTA tax when due),
- All wages that were taxable for FUTA tax were also taxable for your state’s unemployment tax. If, for example, you paid wages to corporate officers (these wages are taxable for FUTA tax) in a state that exempts corporate officers’ wages from its unemployment tax, you cannot use Form 940-EZ, and
- You did not pay wages in a credit reduction state (that is, New York).
File Form 940-EZ 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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