Video instructions and help with filling out and completing Why 940 Schedule Reduction Rates

Instructions and Help about Why 940 Schedule Reduction Rates

Welcome to the shirt payroll minute I'm Michael alter IRS form 940 reports an employers annual federal unemployment tax liability to the IRS almost every business is responsible for filing form 940 you're only exempt if you're a household or agricultural employer if you pay less than $1,500 a year in wages or if you employ someone for less than 20 days each year IRS form 940 is due to the IRS by January 31st of the next calendar year for example your 2008 IRS Form 940 is due by January 31st 2009 even though you only need to file Form 940 once a year you need to calculate your federal unemployment tax liability each quarter if your liability is more than $500 you need to make quarterly deposits if you don't you could face hefty government fines for the simple answer to small business issues I'm Michael alter with your sure payroll minute