2020 Form 940 – Employer’s Annual Federal Unemployment FUTA Tax Return is due by February 1, 2021.
What is FUTA?
FUTA is Federal Unemployment Tax
Who Pays FUTA?
Only the employer pays FUTA. Don’t withhold unemployment tax from your staff members salary.
How do you calculate FUTA tax 2020?
FUTA 6% tax is applied on the 1st $7,000 of each one of your staff members annual wages after you deduct any payment exempt from FUTA tax.
Form 940 Business Tax Checklist
2020 Federal Tax Forms and Instructions
IRS Links to Access Business Tax Forms
You could also access links to 2020 Federal Tax Forms and instructions here.
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