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Tax World
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Employer's Annual Federal Unemployment (FUTA) Tax Return. Form 940-EZ
Use Form 940-EZ, Employer's Annual Federal Unemployment (FUTA) Tax Return, to: -- report your annual Federal Unemployment Tax Act (FUTA) tax. FUTA tax, together with state unemployment systems, provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both federal and state unemployment taxes. Only the employer pays FUTA tax. Do not collect or deduct it from your employees' wages. The tax applies to the first $7,000 you pay each employee in a year after subtracting any exempt payments. The $7,000 amount is the federal wage base. Your state wage base may be different.
"Employers who paid unemployment contributions to only one state, made timely payments, and whose state wages were the same as FUTA wages use Form 940-EZ to report annual FUTA tax.." DOWNLOAD Form 940-EZ This form may be downloaded directly from the IRS website. To open or download, in PDF format, simply click on the link below: Form 940-EZ
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