Form 940 Worksheet

The Form 940 Worksheet displays data that you need to fill out the Internal Revenue Service Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return.

You must file Form 940 with the IRS annually with your payment of federal unemployment tax. Many firms pay FUTA tax quarterly, so the worksheet also calculates the quarterly amount.

FUTA Contribution

DPS calculates your firm's FUTA contribution by applying the current FUTA percentage to each employee’s gross wages, subject to the annual wage base. You specify both the FUTA percentage and the annual wage base on the General tab in the Options dialog box.

How To Use this Worksheet

Use the data on the worksheet's summary page to fill in the appropriate spaces on Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return:

Worksheet summary page Federal Form 940
Total payments for services of employees Part I, Line 1
Exempt payments Part I, Line 2
Payments for services of more than <wage base> Part I, Line 3
Total exempt wages Part I, Line 4
Total taxable wages Part I, Line 5
Gross FUTA tax (@ __%) Part II, Line 1

Multiple Companies

If you use multiple companies, this report may contain employee data for one or more companies that are associated with the employee.

Options Dialog Box

Use the Options dialog box to specify reporting options for a report. Depending on the report, the dialog box contains one or more of the following tabs: General, Sorting/Grouping, Columns, Budget, Metrics, User Defined Sections, Activity, Drill Down, Layout, and Graph.

Related Topics:

  • Display the Form 940 Worksheet
    The Form 940 Worksheet is a payroll report.
  • Form 940 Worksheet General Tab
    Use the General tab to select report options for the Form 940 Worksheet and to save sets of options for reuse.
  • Form 940 Worksheet Columns
    The Form 940 Worksheet contains a standard set of columns. You cannot select columns for this report. The header area of the Form 940 Worksheet displays the Form W-2 year and quarter for which you generate the report. The body of the worksheet displays gross pay, 125/Cafeteria contributions, and total wages subject to tax for each employee.
  • Form 940 Worksheet Summary
    The last page of the Form 940 Worksheet displays quarter-to-date and year-to-date summary information.
Parent Topic: Payroll Reports