What is Form 940 used for in the IRS?

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Form 940 is provided by employers to the Feds and reports the amount of FUTA (Federal Unemployment Tax) that they must pay for their employees. The detail shows which employees (by SS # of course) are included for what amounts of FUTA taxable income. FUTA Taxable income is different than other types of taxable income by an assortmetn of things....different to FICA taxable income most importantly by it not having a maximum amount that contributions stop after (FICA stops after 97.5K (102K in 2008) of income, FUTA doesn't). So, how exactly the government or it's computers (most employers are required to file this electronically), use the form or the information on the form, and the payment that must have been made it represents....other than generally to calculate and fund the Federal portion of unemeployment insurance coverages....?
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What is IRS form 1040 used for?

Answer . Perhaps the most well known IRS form in existence - it is the one used for individuals to report/file their federal income taxes annually. It has a few versions

What is on Form 940?

Form 940 is Employer's Annual Federal Unemployment (FUTA) Tax Return. It's a two-page form for reporting the employer's federal unemployment tax liability on the first $7,000

What is the last date to mail the IRS 940 form?

February 10, 2009.. If the IRS receives your return after the due date, they will treat your return as filed on time if the envelope containing your return is properly addres

What is IRS form 1040ez used for?

Form 1040EZ is Income Tax Return for Single and Joint Filers with No Dependents. It's only one page. It's the simplest of the three forms in the 1040 series. It's used only by

What is IRS form 1040A used for?

The 1040A form is a shorter and more simple version of the IRS 1040 tax form. A taxpayer can use the 1040A form if his total income is less than $100,000. In addition, the 104

What is Form 945 used for in the IRS?

Form 945 is Annual Return of Withheld Federal Income Tax. Form 945 is an information tax return that reports certain tax payments. It's used to report withheld federal income

What is IRS form 1065 used for?

Form 1065 is an information return used to report the income, gains, losses, deductions, credits, etc., from the operation of a partnership. A partnership does not pay tax on
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What is the IRS form 88 88 used for?

The IRS (Internal Revenue Service) is a service that is operated and based out of the United States, and the 88 88 is used for an employee to business related tax form.
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What is the 'Form 940' used for?

The Form 940 is provided by employers to the IRS to report the amount of FUTA ( Federal Unemployment Tax) that they must pay for their employees. It shows which employees are