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Video instructions and help with filling out and completing Are 940 Schedule Return

Instructions and Help about Are 940 Schedule Return

Welcome back to another video for harbor for nacho online.com today I'm going to be talking about the form 940 in the instructions and if you're required to fill out this form so I'm going to walk through this video with you guys show you the requirements and see if you need to be submitting this to the IRS and how to fill out the form the right way so I'm going to get the video started so the form the IRS tax form 940 is used to report annual federal unemployment taxes and basically a lot of companies out there are required to fill out this form but don't don't realize that they need to so there's not a whole lot that triggers you to have to fill this out I mean basically if you have employees you are required to fill out the form 940 it provides funds for the unemployment compensation so this goes into a general pool of money for employees out there that become unemployed to pay out those employees to cover that requirement as they're unemployed the unemployment compensation amounts employers don't deduct this from the employee payroll so make sure if you're new to this you're not deducting it from your employee payroll amounts because the employee shouldn't be paying paying any of the cost of this for the when you fill out this 940 the cost that you're going to submit you have to be completely accurate on this form 940 this is something that the IRS make sure that they make sure this is this form is completed as exact as possible so any errors that you make on that form they're going to send it back to so make sure you understand how to fill out the form and you're...