The 2020 Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, was released Nov. 23 by the Internal Revenue Service.
The form’s 2020 Schedule A, Multi-State Employer and Credit Reduction Information, also was released. The schedule, which is used to report additional tax owed because of federal unemployment tax credit reductions, reaffirmed the 2020 credit reduction percentage of 3% for employers in the U.S. Virgin Islands released Nov. 10 by the Labor Department.
Updated instructions for Form 940 also were released.
The deadline for filing the 2020 Form 940 and its schedules is Feb. 1, 2021, which also ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.