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Video instructions and help with filling out and completing Are 940 Schedule R Form

Instructions and Help about Are 940 Schedule R Form

In this presentation we will take a look at form 940 which is the employers annual federal unemployment or futa tax return for more accounting information and accounting courses visit our website at accounting instruction dot info here's an example of the form this comes from the IRS website which you can find at irs.gov e we got the 1040 currently for 2023 it has the same information up top that we see in the 941 which will include the ein number or the employer identification number name trade and address note over here however even though we have a similar looking box it's not the same as we see on the 940 ones because this is a yearly return rather than a quarterly return so this box includes stuff if we had to amend the returned or some other special circumstances like it's an it's like the last return or something like that then we would select the appropriate items here but this isn't a quarterly return that's the thing we really want to remember here they sound very similar of course one because of the numbers and two because it's a payroll tax form but the 941 is actually the quarterly returns the 940 is the yearly return so it also seems kind of funny that the 940 the thing we do at the end of the year has a number that's before the 940 ones that we do on a quarterly basis note that they're not related in in many different ways the 940 at the end of the year in other words it would be makes sense for us to think that the IRS would want us to make a 940 return 941 return quarterly for four quarters and then rhe sum up that data again...