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

Learn how to properly complete and report the IRS Form 940 as per IRS requirements.

IRS Form 940 is used for annual reporting of federal unemployment taxes. Every employer must report and pay unemployment taxes by setting aside an amount and reporting it in Form 940. This topic will provide you with details on what employers and earnings that are subject to unemployment taxes, as well as review your FUTA tax liabilities for 2019. You will learn how to properly complete and report the IRS Form 940 as per IRS requirements. We will review the updates that have occurred on the Form 940 and how to avoid common mistakes. Learn how to properly calculate, report, and remit FUTA taxes, as well as how to verify what payments were made by a third party on your behalf.

Runtime: 97 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Why Form 940?

  • What Is Federal Unemployment Tax Act
  • Review Tax Rate and Wage Base

Employers Responsibility for Filing Form 940?

  • What Earnings Are Subject to FUTA Taxes
  • Discuss the Other Types of Employers
  • Details of the FUTA Credit Reductions

How to Complete Form 940

  • How to Properly Complete Form 940
  • How to Properly Calculate FUTA Tax
  • When FUTA Tax Deposits Are Due

Other Form 940 Considerations

  • How to Avoid Common Mistakes
  • What Errors Can Result in Penalties
  • IRS Resources
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on September 25, 2019.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.75
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.75
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Arlene Baker

Arlene Baker

Paycor, Inc.

  • Senior compliance analyst at Paycor, Inc.
  • Member of the American Payroll Association serving on various committees, state and local taxes, hospitality and hotline referral; recognized as the 2003 Ohio Payroll Professional of the Year
  • Board member for the Greater Cincinnati American Payroll Association and Greater Cincinnati Association of Training and Development
  • More than 40 years of experience in the field of taxation, both in private industry and service provider area
  • Speaker for the Ohio local chapters and the Ohio Conference for Payroll Professionals of the American Payroll Association, and Lorman Education Services
  • Can be contacted at [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 406161
Published 2019
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