2. Using the information below, please complete a Form 940 for Dell's Sporting Goods for the current year. Additional information needed to complete the form is as follows: a. State reporting number: 025-319-2 b. No FUTA tax deposits were made for this year c. Dell's three employees for the year all earned over $7,000 (Click the icon to view the employees' payroll information for October, November, and December.) (Click the icon to view the blank Form 940.) (If a box is not used in the table leave the box empty, do not enter a zero. Round your calculations to the nearest cent as needed) Part 2 Determine your FUTA tax before adjustments for 201X. If any line does NOT apply, leave it blank 3 Total payments to all employees 4 Payments exempt from FUTA tax Check all that apply: 4a Fringe benefits 4c RetirementPension 4e Other 4b Group-term life insurance 4dDependent care 5 Total of payments made to each employee in excess of $7,000 6 Subtotal (line 4 line 5 line 6) 7 Total taxable FUTA wages (line 3- line 6 line 7) 8 FUTA tax before adjustments (line 7 x 0.006line 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 .054 (line 7x 054 line 9). Go to line 12 9 10 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. 11 If credit reduction applies, enter the total from Schedule A (Form 940) 10 Part 4 Determine your FUTA tax and balance due or overpayment for 201x If any line does NOT apply, leave it blank. 12 Total FUTA tax after adjustment (lines 8+910 +11 line 12) 13 FUTA tax deposited for the year, including any payment applied from a prior year... 14 Balance due (If line 12 is more than line 13, enter the difference on line 14.) 12 13 If line 14 is more than S500, you must deposit your tax. If line 14 is $500 or less, you may pay with this return. (see instructions) 14 15 Overpayment (If line 13 is more than line 12, enter the difference on line 15.). 15 1: Payroll Records October FICA Federal Employee Paula Bush Susan Lincoln Kate Washington Monthly Earnings YTD Earnings OASD Medicare Income Tax 2,800 3,600 3,720 10,120 $110,600 173.60 $40.60 $ 533.00 426.00 538.00 193,850 627.44 $ 146.74 1,497.00 39,400 223.20 52.20 43,850 230.64 53.94 November FICA Federal Employee Paula Bush Susan Lincoln Kate Washington Monthly Earnings YTD Earnings OASDI Medicare Income Tax 599.00 465.00 562.00 S 667.12 $ 156.02 $ 626.00 S 113,660 43,260 47,690 S 204,610 S 189.72$44.37 $ 3,060 3,860 3,840 10,760 239.32 55.97 238.08 55.68 December FICA Federal Employee Paula Bush Susan Lincoln Kate Washington Monthly Earnings 4,240 3,720 4.440 YTD Earnings SDI Medicare Income Tax 207.08 $61.48 S 872.00 474.00 704.00 $ 713.00 S 179.80 2,050.00 OA $ 117,900 46,980 52,130 $ 217,010 230.64 53.94 275.28 64.38 $12,400 2: Form 940 rt 2: Determine your FUTA tax before adjustments for 201X. If any line does NOT apply, leave it blank 3 Total payments to all employees 4 Payments exempt from FUTA tax Check all that apply: 4a Fringe benefits Group-term life insurance Retirement/Pension 4eOther 4b 4d Dependent care 5 Total of payments made to each employee in excess of $7,000 6 Subtotal (line 4 line 5 line 6) 7 Total taxable FUTA wages (line 3 - line 6 ine 7) 8 FUTA tax before adjustments (line 7 x 0 006 = line 8) 7 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 054 (line 7 x 054 line 9). Go to line 12 10 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 11 If credit reduction applies, enter the total from Schedule A (Form 940) Part 4: Determine your FUTA tax and balance due or overpayment for 201X. If any line does NOT apply, leave it blank. 12 Total FUTA tax after adjustment (lines 8 + 9 + 10 + 11 = line 12) 13 FUTA tax deposited for the year, including any payment applied.from a prior year 14 Balance due (If line 12 is more than line 13, enter the difference on line 14.) 12 13 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) 15 Overpayment (If line 13 is more than line. 12, enter the difference on line 15.) Part 5: Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6 15 Report the amount of your FUTA tax liability for each quarter, do NOT enter the amount you deposited. If you had no liability for a quarter, leave the line blank. 16 16a 1st quarter (January 1 - March 31) 16b 2nd quarter (April 1-June 30) 16c 3rd quarter (July 1 - September 30) 16d 4th quarter October 1 - December 31) 16a 16b 16C 16d Total must equal line 12 17 Total tax liability for the year (lines 16a 16b 16c 16d-line 17) 17 2. Using the information below, please complete a Form 940 for Dell's Sporting Goods for the current year. Additional information needed to complete the form is as follows: a. State reporting number: 025-319-2 b. No FUTA tax deposits were made for this year c. Dell's three employees for the year all earned over $7,000 (Click the icon to view the employees' payroll information for October, November, and December.) (Click the icon to view the blank Form 940.) (If a box is not used in the table leave the box empty, do not enter a zero. Round your calculations to the nearest cent as needed) Part 2 Determine your FUTA tax before adjustments for 201X. If any line does NOT apply, leave it blank 3 Total payments to all employees 4 Payments exempt from FUTA tax Check all that apply: 4a Fringe benefits 4c RetirementPension 4e Other 4b Group-term life insurance 4dDependent care 5 Total of payments made to each employee in excess of $7,000 6 Subtotal (line 4 line 5 line 6) 7 Total taxable FUTA wages (line 3- line 6 line 7) 8 FUTA tax before adjustments (line 7 x 0.006line 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 .054 (line 7x 054 line 9). Go to line 12 9 10 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. 11 If credit reduction applies, enter the total from Schedule A (Form 940) 10 Part 4 Determine your FUTA tax and balance due or overpayment for 201x If any line does NOT apply, leave it blank. 12 Total FUTA tax after adjustment (lines 8+910 +11 line 12) 13 FUTA tax deposited for the year, including any payment applied from a prior year... 14 Balance due (If line 12 is more than line 13, enter the difference on line 14.) 12 13 If line 14 is more than S500, you must deposit your tax. If line 14 is $500 or less, you may pay with this return. (see instructions) 14 15 Overpayment (If line 13 is more than line 12, enter the difference on line 15.). 15 1: Payroll Records October FICA Federal Employee Paula Bush Susan Lincoln Kate Washington Monthly Earnings YTD Earnings OASD Medicare Income Tax 2,800 3,600 3,720 10,120 $110,600 173.60 $40.60 $ 533.00 426.00 538.00 193,850 627.44 $ 146.74 1,497.00 39,400 223.20 52.20 43,850 230.64 53.94 November FICA Federal Employee Paula Bush Susan Lincoln Kate Washington Monthly Earnings YTD Earnings OASDI Medicare Income Tax 599.00 465.00 562.00 S 667.12 $ 156.02 $ 626.00 S 113,660 43,260 47,690 S 204,610 S 189.72$44.37 $ 3,060 3,860 3,840 10,760 239.32 55.97 238.08 55.68 December FICA Federal Employee Paula Bush Susan Lincoln Kate Washington Monthly Earnings 4,240 3,720 4.440 YTD Earnings SDI Medicare Income Tax 207.08 $61.48 S 872.00 474.00 704.00 $ 713.00 S 179.80 2,050.00 OA $ 117,900 46,980 52,130 $ 217,010 230.64 53.94 275.28 64.38 $12,400 2: Form 940 rt 2: Determine your FUTA tax before adjustments for 201X. If any line does NOT apply, leave it blank 3 Total payments to all employees 4 Payments exempt from FUTA tax Check all that apply: 4a Fringe benefits Group-term life insurance Retirement/Pension 4eOther 4b 4d Dependent care 5 Total of payments made to each employee in excess of $7,000 6 Subtotal (line 4 line 5 line 6) 7 Total taxable FUTA wages (line 3 - line 6 ine 7) 8 FUTA tax before adjustments (line 7 x 0 006 = line 8) 7 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 054 (line 7 x 054 line 9). Go to line 12 10 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 11 If credit reduction applies, enter the total from Schedule A (Form 940) Part 4: Determine your FUTA tax and balance due or overpayment for 201X. If any line does NOT apply, leave it blank. 12 Total FUTA tax after adjustment (lines 8 + 9 + 10 + 11 = line 12) 13 FUTA tax deposited for the year, including any payment applied.from a prior year 14 Balance due (If line 12 is more than line 13, enter the difference on line 14.) 12 13 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) 15 Overpayment (If line 13 is more than line. 12, enter the difference on line 15.) Part 5: Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6 15 Report the amount of your FUTA tax liability for each quarter, do NOT enter the amount you deposited. If you had no liability for a quarter, leave the line blank. 16 16a 1st quarter (January 1 - March 31) 16b 2nd quarter (April 1-June 30) 16c 3rd quarter (July 1 - September 30) 16d 4th quarter October 1 - December 31) 16a 16b 16C 16d Total must equal line 12 17 Total tax liability for the year (lines 16a 16b 16c 16d-line 17) 17
