As mandated by the Internal Revenue Service, every employer that, for a calendar quarter of the current or preceding calendar year, paid at least $1,500 in wages or employed at least one employee during some part of a day in any 20 or more different weeks must file Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, on an annual basis.
As mandated by the Internal Revenue Service, employers that need to correct errors on a previously filed Form 941 must file Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund.
HR and legal considerations for employers regarding depositing and reporting of withheld payroll taxes. Support on following laws and regulations regarding this topic.
Depositing and Reporting Withheld Taxes: Key items