Payroll Accounting 2011 Chapter 7 Project

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Form

940 for 2010:

Department of the Treasury — Internal Revenue Service —

Employer's Annual Federal Unemployment (FUTA) Tax Return
Type of Return
(Check all that apply.)

850110
OMB No. 1545-0028

(EIN) Employer identification number Name (not your trade name) Trade name (if any) Address Number Street

a. Amended b. Successor employer c. No payments to employees in 2010 d. Final: Business closed or stopped paying wages

Suite or room number

City

State

ZIP code

Read the separate instructions before you fill out this form. Please type or print within the boxes.

Part 1: Tell us about your return. If any line does NOT apply, leave it blank. 1 If you were required to pay your state unemployment tax in ... 1a One state only, write the state abbreviation . . . . - OR 1b More than one state (You are a multi-state employer) . 2 1a . . . . . . . . . . . . . . . . . . 1b 2 Check here. Fill out Schedule A. Check here. Fill out Schedule A (Form 940), Part 2.

If you paid wages in a state that is subject to CREDIT REDUCTION .

Part 2: Determine your FUTA tax before adjustments for 2010. If any line does NOT apply, leave it blank. 3 4 Total payments to all employees . Payments exempt from FUTA tax . . . . . . . . . . . . . . . 4 Retirement/Pension 4e Dependent care 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

.

.
Other

5 6 7 8 9 10

4c Check all that apply: 4a Fringe benefits Group-term life insurance 4d 4b Total of payments made to each employee in excess of $7,000 . . . . . . . . . . . . . . . . Subtotal (line 4 + line 5 = line 6) . . . . . . . . . . . . .

.
. . . . . . 6 7 8

Total taxable FUTA wages (line 3 – line 6 = line 7) . FUTA tax before adjustments (line 7 × .008 = line 8)

. . . . . . . . . .
Apply to next return. Send a refund.
Next ■▶
Form

Part 3: Determine your adjustments. If any line does NOT apply, leave it blank. If ALL of the taxable FUTA wages you paid were excluded from state unemployment tax, multiply line 7 by .054 (line 7 × .054 = line 9). Then go to line 12 . . . . . . . . . 9 If SOME of the taxable FUTA wages you paid were excluded from state unemployment tax, OR you paid ANY state unemployment tax late (after the due date for filing Form 940), fill out the worksheet in the instructions. Enter the amount from line 7 of the worksheet . . . . . 10 If credit reduction applies, enter the amount from line 3 of Schedule A (Form 940) . . . . 11

11

Part 4: Determine your FUTA tax and balance due or overpayment for 2010. If any line does NOT apply, leave it blank. 12 13 14 Total FUTA tax after adjustments (lines 8 + 9 + 10 + 11 = line 12) . . . . . . . . . 12

FUTA tax deposited for the year, including any overpayment applied from a prior year . 13 Balance due (If line 12 is more than line 13, enter the difference on line 14.) • If line 14 is more than $500, you must deposit your tax. • If line 14 is $500 or less, you may pay with this return. For more information on how to pay, see 14 the separate instructions . . . . . . . . . . . . . . . . . . . . . . Overpayment (If line 13 is more than line 12, enter the difference on line 15 and check a box below.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 ▶

15

You MUST fill out both pages of this form and SIGN it.

Check one:

For Privacy Act and Paperwork Reduction Act Notice, see the back of Form 940-V, Payment Voucher.

Cat. No. 11234O

940

(2010)

850210
Name (not your trade name) Employer identification number (EIN)

Part 5: Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6. 16 Report the amount of your FUTA tax liability for each quarter; do NOT enter the amount you deposited. If you had no liability for a quarter, leave the line blank. 16a 1st quarter (January 1 – March 31) . 16b 2nd quarter (April 1 – June 30) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16a...
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