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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, and at that time you must arrange to pay any amount previously unpaid. 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.

Select Federal Form.

Click OK.

Click the Annual Form 940/940-EZ option.

Verify the filing year.

Click OK.

You might see a dialog box explaining why the form on your screen differs from the form that will print. Click OK to close this window.

On the 940 interview screen, check boxes to answer questions that apply to your company.

Click Next.

Check the boxes to answer the questions at the top of the Form 940.

Scroll through the Form 940 and verify that the calculations are correct.

If there is an overpayment, check the appropriate box to indicate if you want the overpayment credited to your next return or refunded to you.

Click Next to view the filing instructions.

Click the appropriate box to perform one of the tasks described in step 20 of the previous task.

Click Done when you are finished with the form.


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