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Chapter 2. Setting Up and Using Payroll ... > Paying Federal Unemployment Compensa...

Paying Federal Unemployment Compensation Taxes with Form 940

Throughout the year, you might be required to make deposits of federal unemployment compensation tax. Once a year you are required to file a federal Form 940 reporting your annual unemployment compensation tax liability. QuickBooks can prepare this form for you. Prepare the Form 940 in QuickBooks and then print a copy, ready to be signed and mailed.

Pay Federal Unemployment Compensation Taxes with Form 940

Select Process Payroll Forms from the Employees menu.

Click the Form 940 option.

Click OK.

Enter the year for which you are preparing Form 940.

Click Next.

On the next screen, check boxes to answer questions that apply to your company; then click Next.

Verify that the calculations are correct on the next screens. Click Yes if you need to adjust any calculations. Click Next (you don't need to click No) to continue.

If there is an overpayment, indicate how you want the overpaid amount treated.

Click Next.

Click the option to preview the Form 940 before printing.

When satisfied, click the Print button to print the form.


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