Why does the employer fill out an IRS form 940 every year?
A)to report income taxes withheld from employee wages
B)to report federal unemployment tax
C)to report the number of employees from their company who have filed for unemployment
D)to report the number of employees who filed a workers' compensation claim

Question

Quizplus · Accepted Answer

Form 940 is used by employers to report and pay their federal unemployment tax (FUTA) on an annual basis. FUTA is a tax that helps fund unemployment benefits for workers who have lost their jobs.

Why Does the Employer Fill Out an IRS Form 940