The Content Rabbit Graphics Company paid its 25 employees a total of $863,428.49 during 2021. Of these
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The Content Rabbit Graphics Company paid its 25 employees a total of $863,428.49 during 2021. Of these wages, $9,850 is exempt from retirement benefits (employer contributions to 401(k) plans). All employees have worked there for the full calendar year and reached the FUTA wage base during the first quarter; taxes were deposited then. The Content Rabbit Graphics Company is located at 3874 Palm Avenue, Sebring, Florida, 20394. The owner is Eden Parks, EIN is 99-2039485, and the phone number is 461-555-9485. Complete Form 940, submitting it on January 13, 2022.
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Form 940 for 2021: Employer's Annual Federal Unemployment (FUTA) Tax Return Department of the Treasury - Internal Revenue Service Employer identification number (EIN) Name (not your trade name) Trade name (if any) Address 3 4 5 6 Number 7 City 10 Street Foreign country name 13 14 State Foreign province/county Foreign postal code Read the separate instructions before you complete this form. Please type or print within the boxes. Part 1: Tell us about your return. If any line does NOT apply, leave it blank. See instructions before completing Part 1. 1a If you had to pay state unemployment tax in one state only, enter the state abbreviation. 1a 1b If you had to pay state unemployment tax in more than one state, you are a multi-state employer... 1b .... 2 If you paid wages in a state that is subject to CREDIT REDUCTION 2 Part 2: Determine your FUTA tax before adjustments. If any line does NOT apply, leave it blank. Total payments to all employees Payments exempt from FUTA tax. Fringe benefits Check all that apply: 4a 4c 4b Group-term life insurance 4d Total of payments made to each employee in excess of $7,000. 5 Subtotal (line 4 + line 5 = line 6). Total taxable FUTA wages (line 3-line 6 = line 7). See instructions. 8 FUTA tax before adjustments (line 7 x 0.006 = line 8). Part 3: Determine your adjustments. If any line does NOT apply, leave it blank. 9 If ALL of the taxable FUTA wages you paid were excluded from state unemployment tax, multiply line 7 by 0.054 (line 7 x 0.054 = line 9). Go to line 12 Suite or room number ZIP code 4 + Type of Return (Check all that apply.) a. Amended b. Successor employer c. No payments to employees in 2021 d. Final: Business closed or stopped paying wages Go to www.irs.gov/Form940 for instructions and the latest information. FUTA tax deposited for the year, including any overpayment applied from a prior year Balance due. If line 12 is more than line 13, enter the excess on line 14. • If line 14 is more than $500, you must deposit your tax. • If line 14 is $500 or less, you may pay with this return. See instructions Retirement/Pension 4e Other Dependent care 3 For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. 6 7 8 If SOME of the taxable FUTA wages you paid were excluded from state unemployment tax, OR you paid ANY state unemployment tax late (after the due date for filing Form 940), complete the worksheet in the instructions. Enter the amount from line 7 of the worksheet . . 10 9 If credit reduction applies, enter the total from Schedule A (Form 940) 11 11 Part 4: Determine your FUTA tax and balance due or overpayment. If any line does NOT apply, leave it blank. 12 Total FUTA tax after adjustments (lines 8 + 9 + 10 + 11 = line 12). 850113 OMB No. 1545-0028 12 13 14 Check here. Complete Schedule A (Form 940). Check here. Complete Schedule A (Form 940). 15 Overpayment. If line 13 is more than line 12, enter the excess on line 15 and check a box below 15 ► You MUST complete both pages of this form and SIGN it. Check one: Apply to next return. Cat. No. 112340 ■ . Send a refund. Next Form 940 (2021)
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Payroll Accounting 2023
ISBN: 9781264415618
9th Edition
Authors: Jeanette M. Landin, Paulette Schirmer
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