If you were to talk about the 4940, this is the form that we use for food. It is an annual form that is completed once a year. When we talk about food, we discuss how we calculate it every quarter and possibly pay a deposit if we owe more than $500. We have to pay the deposit quarterly, even if we owe less than $500. The filing of the actual form is done only once per year and is due by the end of January. Let's take a look at the form. Up here, we have the employer ID number. If you are already signed up as an employer with the IRS, they would already have this information available with your name and address. However, if you are using a blank form, you would need to put the employer ID number in. If this is a trade name business, meaning that your name is Jane Doe and you have a business called ABC Company, then the trade name would be the name of the company. If it is an incorporated company, then the name of the company would go under "name." If you are a sole proprietor, your name would go under "name" and the company name would go under "trade name." Don't forget to provide the company's address and foreign information if applicable. If this is an amended return, meaning that you have already filed the form and found an error, you would check the for "amended return." If the company was sold to another person and they are continuing to employ the same people, then they would be considered a successor employer. If there were no payments to employees in 2014, you would check the for "no payments to employees." If the business has stopped paying wages...
Award-winning PDF software
Video instructions and help with filling out and completing What 940 Schedule R Form
