Looking for a Form 940 Templates? Download it for free!

•

Receive any refund check,

Part 5: Report Your FUTA Tax Liability

•

Bind you to anything (including additional tax liability), or

•

Otherwise represent you before the IRS.

by Quarter Only if Line 12 Is More

Than $500

The authorization will automatically expire 1 year after the

due date for filing your Form 940 (regardless of extensions). If

Fill out Part 5 only if line 12 is more than $500. If line 12 is

you or your designee want to end the authorization before it

$500 or less, leave Part 5 blank and go to Part 6.

expires, write to the IRS office where the return was filed.

However, if the return was originally filed with a payment, use

16. Report the amount of your FUTA tax liability

the Without a payment address.

for each quarter

If you want to expand your designee’s authorization or if you

Enter the amount of your FUTA tax liability for each quarter on

want us to send your designee copies of your notices, see Pub.

lines 16a-d. Do not enter the amount you deposited. If you had

947, Practice Before the IRS and Power of Attorney.

no liability for a quarter, leave the line blank.

16a. 1

quarter (January 1 to March 31).

Part 7: Sign Here

16b. 2

quarter (April 1 to June 30).

16c. 3

quarter (July 1 to September 30).

You MUST fill out both pages of the form and

16d. 4

quarter (October 1 to December 31).

SIGN it.

Failure to sign will delay the processing of your return.

To figure your FUTA tax liability for the fourth quarter, complete

Form 940 through line 12. Then copy the amount from line 12

In Part 7, sign and print your name and title. Then enter the

onto line 17. Lastly, subtract the sum of lines 16a through 16c

date and the best daytime telephone number, including area

from line 17 and enter the result on line 16d.

code, where we can reach you if we have any questions.

Example:

Who must sign Form 940?

You paid wages on March 28 and your FUTA tax on those wages was

$200. You were not required to make a deposit for the 1st quarter

Form 940 must be signed as follows.

•

because your accumulated FUTA tax was $500 or less. You paid

Sole proprietorship — The individual who owns the

additional wages on June 28 and your FUTA tax on those wages was

business.

$400. Because your accumulated FUTA tax for the 1st and 2nd

•

Partnership (including a limited liability company (LLC)

quarters exceeded $500, you were required to make a deposit of $600

treated as a partnership) or unincorporated organization —

by July 31.

A responsible and duly authorized member or officer having

knowledge of its affairs.

You would enter $200 in line 16a because your liability for the 1

•

Corporation (including an LLC treated as a corporation)

quarter is $200. You would also enter $400 in line 16b to show your 2

— The president, vice president, or other principal officer.

quarter liability.

•

Single member LLC treated as a disregarded entity —

The owner of the LLC.

•

Trust or estate — The fiduciary.

17. Total tax liability for the year

Your total tax liability for the year must equal line 12. Copy the

If you have filed a valid power of attorney, your duly

amount from line 12 onto line 17.

authorized agent may also sign your Form 940.

Alternative signature method. Corporate officers or duly

authorized agents may sign Form 940 by rubber stamp,

Part 6: May We Speak With Your

mechanical device, or computer software program. For details

and required documentation, see Rev. Proc. 2005-39. You can

Third-Party Designee?

find Rev. Proc. 2005-39 on page 82 of Internal Revenue

Bulletin 2005-28 at

If you want to allow an employee, your paid tax preparer, or

another person to discuss your Form 940 with the IRS, check

the “Yes” box. Then enter the name of the person you choose

Part 8: For Paid Preparers Only

as your designee. Be sure to give us the specific name of a

(optional)

person — not the name of the firm that prepared your tax

return.

Paid preparers may choose to fill out Part 8 if they were paid to

Have your designee select a 5-digit Personal Identification

prepare this return and are not an employee of the business

Number (PIN) that he or she must use as identification when

that is filing the return. Do not fill out Part 8 if you are filing the

talking to IRS about your form.

return as a reporting agent and have a valid Form 8655,

Reporting Agent Authorization, on file with the IRS.

By checking “Yes,” you authorize us to talk to your designee

about any questions that we may have while we process your

You are not required to complete this section.

return. Your authorization applies only to this form, for this year;

it does not apply to other forms or other tax years.

If you are a paid preparer and you choose to fill out

Part 8, sign in the space provided. Give the employer the return

You are authorizing your designee to:

to file with IRS and include a copy of the return for the business’

•

records.

Give us any information that is missing from your return,

•

Ask us for information about processing your return, and

Write your social security number (SSN) or your Preparer

•

Respond to certain IRS notices that you have shared with

Tax Identification Number (PTIN) in the spaces provided.

your designee about math errors and in preparing your return.

Include your complete address.

We will not send notices to your designee.

If you work for a firm, write the firm’s name and the EIN of

You are not authorizing your designee to:

your firm.

-10-

Instructions For Form 940 - Employer'S Annual Federal Unemployment (Futa) Tax Return - 2007 Page 10

Related Articles

Related forms

Related Categories