Paying Federal Unemployment Compensation Taxes with Form 940

Throughout the year, you might be required to make deposits of federal unemployment compensation tax. Once a year you are required to file a federal Form 940 reporting your annual unemployment compensation tax liability, and at that time you must arrange to pay any amount previously unpaid. QuickBooks can prepare this form for you to print, sign, and mail.

Pay Federal Unemployment Compensation Taxes with Form 940

Select Process Payroll Forms from the Employees menu.

Select Federal Form.

Click OK.

Click Annual Form 940/940-EZ.

Verify the filing year.

Click OK.

You might see a dialog box explaining why the form on your screen differs from the form that will print. Click OK to close this window.

On the 940 interview screen, check boxes to answer questions that apply to your company.

Click Next.

Check the boxes to answer the questions at the top of the Form 940.

Scroll through the Form 940 and verify that the calculations are correct.

If there is an overpayment, check the appropriate box to indicate if you want the overpayment credited to your next return or refunded to you.

Click Next to view the filing instructions.

Click the appropriate box to perform one of the tasks described below.

• Check for errors Verifies that all the necessary information is on the form.
  
  
• Print forms Sends your form(s) to the printer.
  
  
• Save As PDF Saves your form and protects it in a PDF format. The form can then be viewed in Adobe Reader.
  
  

Click Save & Close when you are finished with the form.