Federal Tax 940 Report

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Federal Tax 940 Report, TAX-940, is the Employer's Annual Federal Unemployment Tax Return. To report employees' taxable wages and deposits of FUTA taxes, employers typically are required to file federal Form 940, or in some cases may file Form 940–EZ.

Process, verify, and print Federal 940s as required by law. If the tax liabilities and the tax payments do not balance, a notice will display on the first page of the TAX-940 report.

Lines on Form 940

Here is information regarding the lines on the 940 form.

In Line 3, the system is displaying the FUTA taxable wage amounts from archived payroll information that was processed by the Process 940 wizard.
Line 4 is those taxable wages marked exempt from FUTA plus any 1099-MISC earnings.
Line 5 is wages paid over the FUTA limit.
Line 6 is wages paid over the FUTA limit plus Line 4.
Line 7 is Line 3 minus Line 6.
Line 8 is the FUTA tax before adjustments.

Federal Tax 940 Report, TAX-940

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Federal Tax 940 Report Page 2, TAX-940

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Federal Tax 940 Report Exempt Payments Listing Page, TAX-940

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