IRS Form 940 Update: Employer's Annual Federal Unemployment (FUTA) Tax Return
1 hour 40 minutes
Learn how to properly complete and report the IRS Form 940 as per IRS requirements.
Federal and state unemployment taxes have always been hard to understand. Within the last couple of years and the economic changes in the United States, a lot has changed concerning state and federal unemployment. These changes have included not only rate changes but additions to small repayment taxes to special state assessments. This course will review unemployment basics and explain the new changes and how they affect how we do business and stay compliant. Also, trends over the last couple of years due to the COVID-19 pandemic will be covered so employers know when and how to handle SUI-related changes.
• You will be able to define FUTA.
• You will be able to recognize who and what is subject to FUTA tax.
• You will be able to review the basics of Form 940.
• You will be able to discuss FUTA and state unemployment taxes.