Employment Taxes

Form 940: Employer's Annual Federal Unemployment (FUTA) Tax Return

Used by employers to report annual Federal Unemployment Tax Act (FUTA) tax, which funds state unemployment programs.

Download Form 940 PDFAbout on IRS.govInstructions PDF

Who Files This Form?

Employers who paid wages of $1,500+ in any quarter or had one or more employees for at least 20 weeks.

Key Fields

  • Total payments to employees
  • FUTA taxable wages
  • FUTA tax before adjustments
  • Credit for state unemployment tax
  • FUTA tax deposited

Filing Deadlines

Due Date

January 31

Late Filing Penalty

Failure-to-file penalty of 5% per month (up to 25%); failure-to-deposit penalties of 2% to 15% depending on lateness.

Related Forms

Form 941

Employer's Quarterly Federal Tax Return

Form 944

Employer's Annual Federal Tax Return

W-2

Wage and Tax Statement

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