Form 940 Definition

Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, is a form employers must file annually with the IRS.

Form 940 Extended Definition
All businesses with that paid wages of at least $1,500 during the year or had an employee work anytime during 20 or more weeks must file Form 940. Employers report their FUTA, or federal unemployment, taxes on Form 940.

Form 940 is due on January 31 of the following year. If the due date falls on a weekend, Form 940 is due on the next business day.

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Last Updated By

Rachel Blakely-Gray | Apr 27, 2023