Drafts of the instructions for the 2022 federal unemployment tax return and drafts of the instructions, form, and schedule for Puerto Rico’s version of the form were released by the Internal Revenue Service.
The draft of the instructions for Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, is dated Aug. 9. Compared to the 2021 instructions, which listed the US Virgin Islands as a credit reduction jurisdiction, the draft 2022 instructions state “For 2022, there are credit reduction states.”
The instructions for Form 940 (PR) (Spanish), Employer’s Annual Federal Unemployment (FUTA) Tax Return (Puerto Rico Version), are similar but ...
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