940 Forms are used to report annual Federal Unemployment Tax Act (FUTA) tax. Together with state unemployment tax systems, the FUTA tax provides funds for paying unemployment compensation to workers who have lost their jobs. Most employers pay both a federal and a state unemployment tax. Only employers pay FUTA tax. FUTA tax should not be deducted or collected from employees' wages.
Due Dates for 940 Forms
| To IRS |
| January 31* |
* If date shown falls on a Saturday, Sunday or legal holiday, the due date is the next business day.
