Form 940

Form 940, the Employer's Annual Federal Unemployment (FUTA) Tax Return, is the yearly form employers file to report and pay federal unemployment tax.

It is due January 31 for the year before, or February 10 if every deposit was made on time. Employers in a credit reduction state use Schedule A to add the extra tax. Deposits are due during the year once the FUTA owed passes $500.

Form 940 covers only FUTA. Withheld income tax and FICA go on Form 941, and state unemployment goes to the state. See employer payroll taxes for the full list.