Extract data from IRS Form 940 - Employer's Annual Federal Unemployment (FUTA) Tax Return. Get data in JSON format to autofill another form, store in a database or convert to AL3 using WinsurTech solutions.
IRS Form 940 is used by employers to report their annual Federal Unemployment Tax Act (FUTA) tax. This form includes sections for the employer's information, total payments to employees, and the calculation of the FUTA tax. Employers must report the amount of FUTA tax liability and any deposits made. Accurate completion of this form ensures compliance with federal regulations and helps in determining the correct amount of tax owed. It is important to keep detailed payroll records to accurately report wages and calculate the FUTA tax. Timely filing of Form 940 helps in avoiding penalties and ensures that the employer is in good standing with the IRS.