7. Complete the Form 940 for Puss 'n Boots, Inc. (employer identification #66-6666666). Assume that Puss in Boots, Inc. (located at 9687 Swamp Lane, Phoenix, AZ 85202) chooses to complete and mail Form 940 on the due date. Note that Puss in Boots only pays SUTA tax in Arizona. The form is signed by the CEO of the company, Puss N. Boots (telephone #202-555-5555). The company elects to delay remitting FUTA tax until it is required to do so. Total employee compensation for the year was $524,940, and total charitable contributions totaled $16,250. All earnings subject to FUTA tax are also subject to SUTA tax. Puss 'n Boots, Inc. allows its accountants (3 Blind Mice, telephone #202-555-5543, Pin #87554) to discuss the form with the IRS. Four employees of Puss N. Boots earned more than $7,000 that was subject to FUTA tax (each exceeded this threshold in the 1st quarter), while a fifth employee hired during the 4th quarter earned only $2,645 that was subject to FUTA tax. Form 940 for 2018: Employer's Annual Federal Unemployment (FUTA) Tax Return 850113 OMB No. 1545-0028 Department of the Treasury - Intemal Revenue Service Employer identification number (EIN) Name (not your trade marme) Trade name (if any) Type of Return (Check that apply.) a. Amended b. Successor employer c. No payments to employees in 2018 d. Final: Business closed or stopped paying wages Go to www.irs.gov/Form940 for instructions and the latest information. Address Number Street Suite or room number Cly State ZIP Code Foreign country name Foreign postal code 1a 1b 2 Foreign province/county Read the separate instructions before you complete this form. Please type or print within the boxes. Part1: 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 . 16 If you had to pay state unemployment tax in more than one state, you are a multi-state Check here employer Complete Schedule A (Form 940). 2 If you paid wages in a state that is subject to CREDIT REDUCTION. Check here Complete Schedule A (Form 940). 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 Check all that apply: 4a Fringe benefits 4c Retirement/Pension Other 4b Group-term life insurance 4d Dependent care 5 Total of payments made to each employee in excess of $7,000 5 Subtotal (line 4 + line 5 = line 6) 3 3 4 4e 6 6 7 Total taxable FUTA wages (line 3 - line 6 = line 7). See instructions. 7 8 FUTA tax before adjustments (line 7 x 0.006 = line 8) 8 nor Dotarmidinto HR NOT TOP+ blank 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 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 10 11 If credit reduction applies, enter the total from Schedule A (Form 940) 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 (ines 8 + 9 + 10 + 11 = line 12) - 12 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 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. Send a refund. Neart For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Cat. No. 112340 Form 940 (2012) 13 13 14 14 15 850212 Name (not your trade name) Employer identification number (EIN) Part 5: Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6. 16 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. 16a 16a 1st quarter (January 1 - March 31). 166 2nd quarter (April 1 - June 30) 16b 16c 3rd quarter (July 1 - September 30) 16c 16d 4th quarter (October 1 - December 31) 160 Total liability for quarter Total must equal line 12. You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank. 17 If your business has closed or you stopped paying wages Check here, and enter the final date you paid wages 18 If you are a seasonal employer and you don't have to file a return for every quarter of the year Check here. Part 4: May we speak with your third-party designee? Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions Yes. Designee's name and phone number Select a 5-digit Personal Identification Number (PIN) to use when talking to the IRS. for details. I No. Part 5: Sign here. You MUST complete both pages of Form 941 and SIGN it. Under penalties of perjury, I declare that I have examined this return, Including accompanying schedules and statements, and to the best of my knowledge and ballet, it is true, correct, and complete. Declaration of preparer(other than taxpayer) is based on all Information of which preparer has any knowledge. Print your Sign your name here name here title here X Print your Date Best daytime phone Check if you are self-employed Paid Preparer Use Only Preparer's name PTIN Date Preparer's signature Firm's name (or yours if self-employed EIN Address Phone City State ZIP code Page 2 Form 941(Rev. 1-2019) 7. Complete the Form 940 for Puss 'n Boots, Inc. (employer identification #66-6666666). Assume that Puss in Boots, Inc. (located at 9687 Swamp Lane, Phoenix, AZ 85202) chooses to complete and mail Form 940 on the due date. Note that Puss in Boots only pays SUTA tax in Arizona. The form is signed by the CEO of the company, Puss N. Boots (telephone #202-555-5555). The company elects to delay remitting FUTA tax until it is required to do so. Total employee compensation for the year was $524,940, and total charitable contributions totaled $16,250. All earnings subject to FUTA tax are also subject to SUTA tax. Puss 'n Boots, Inc. allows its accountants (3 Blind Mice, telephone #202-555-5543, Pin #87554) to discuss the form with the IRS. Four employees of Puss N. Boots earned more than $7,000 that was subject to FUTA tax (each exceeded this threshold in the 1st quarter), while a fifth employee hired during the 4th quarter earned only $2,645 that was subject to FUTA tax. Form 940 for 2018: Employer's Annual Federal Unemployment (FUTA) Tax Return 850113 OMB No. 1545-0028 Department of the Treasury - Intemal Revenue Service Employer identification number (EIN) Name (not your trade marme) Trade name (if any) Type of Return (Check that apply.) a. Amended b. Successor employer c. No payments to employees in 2018 d. Final: Business closed or stopped paying wages Go to www.irs.gov/Form940 for instructions and the latest information. Address Number Street Suite or room number Cly State ZIP Code Foreign country name Foreign postal code 1a 1b 2 Foreign province/county Read the separate instructions before you complete this form. Please type or print within the boxes. Part1: 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 . 16 If you had to pay state unemployment tax in more than one state, you are a multi-state Check here employer Complete Schedule A (Form 940). 2 If you paid wages in a state that is subject to CREDIT REDUCTION. Check here Complete Schedule A (Form 940). 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 Check all that apply: 4a Fringe benefits 4c Retirement/Pension Other 4b Group-term life insurance 4d Dependent care 5 Total of payments made to each employee in excess of $7,000 5 Subtotal (line 4 + line 5 = line 6) 3 3 4 4e 6 6 7 Total taxable FUTA wages (line 3 - line 6 = line 7). See instructions. 7 8 FUTA tax before adjustments (line 7 x 0.006 = line 8) 8 nor Dotarmidinto HR NOT TOP+ blank 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 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 10 11 If credit reduction applies, enter the total from Schedule A (Form 940) 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 (ines 8 + 9 + 10 + 11 = line 12) - 12 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 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. Send a refund. Neart For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Cat. No. 112340 Form 940 (2012) 13 13 14 14 15 850212 Name (not your trade name) Employer identification number (EIN) Part 5: Report your FUTA tax liability by quarter only if line 12 is more than $500. If not, go to Part 6. 16 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. 16a 16a 1st quarter (January 1 - March 31). 166 2nd quarter (April 1 - June 30) 16b 16c 3rd quarter (July 1 - September 30) 16c 16d 4th quarter (October 1 - December 31) 160 Total liability for quarter Total must equal line 12. You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank. 17 If your business has closed or you stopped paying wages Check here, and enter the final date you paid wages 18 If you are a seasonal employer and you don't have to file a return for every quarter of the year Check here. Part 4: May we speak with your third-party designee? Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions Yes. Designee's name and phone number Select a 5-digit Personal Identification Number (PIN) to use when talking to the IRS. for details. I No. Part 5: Sign here. You MUST complete both pages of Form 941 and SIGN it. Under penalties of perjury, I declare that I have examined this return, Including accompanying schedules and statements, and to the best of my knowledge and ballet, it is true, correct, and complete. Declaration of preparer(other than taxpayer) is based on all Information of which preparer has any knowledge. Print your Sign your name here name here title here X Print your Date Best daytime phone Check if you are self-employed Paid Preparer Use Only Preparer's name PTIN Date Preparer's signature Firm's name (or yours if self-employed EIN Address Phone City State ZIP code Page 2 Form 941(Rev. 1-2019)