940 Form

Definition

Employer's Annual Federal Unemployment (FUTA) Tax Return. This form is the federal unemployment tax annual report. The form calculates an employer's federal unemployment tax liability. It will then adjust for any state unemployment taxes that are paid, as well as the unemployment tax that is due. The form will then compare the unemployment tax that is due for the year to the tax that has already been paid. The employer will then be required to pay the underpaid amount of tax.

Use 940 Form in a sentence

I had to fill out the 940 form and that made no sense to a lot of the people that were involved in the proceedings.

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After filling out the 940 form, we realized we needed to set aside at least another grand for the unemployment taxes that year.

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It was another boring day, with my morning spent filling out a 940 form and wondering if I needed to grab another cup of coffee to keep me awake.

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90-day savings account 940 Form Schedule A