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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13316
Experience:  15years with H & R Block. Divisional leader, Instructor
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As an employer, what form do I use to pay my FUTA tax,

Customer Question

As an employer, what form do I use to pay my FUTA tax,
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Hello

Use form 940 to report your 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. Do not collect or deduct FUTA tax from your employees' wages.

For 2015, the FUTA tax rate is 6.0%. The tax applies to the first $7,000 you pay to each employee as wages during the year. The $7,000 is the federal wage base. Your state wage base may be different.

Customer: replied 1 year ago.
What about the quarterly FUTA payments? What form is the quarterly tax payment reported on?
Expert:  Robin D. replied 1 year ago.

Those are your deposits. The Electronic Federal Tax Payment System® tax payment service is provided free by the U.S. Department of the Treasury. After you've enrolled and received your credentials, you can pay any tax due to the Internal Revenue Service (IRS) using this system.

This also means your FUTA taxes. You can enroll and make your payments here

https://www.eftps.gov/eftps/direct/EftpsHome.page

Expert:  Robin D. replied 1 year ago.
Employers who withhold income taxes, social security tax, or Medicare tax from employee's paychecks or who must pay the employer's portion of social security or Medicare tax, use Form 941 to report those taxes quarterly.