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Standard Report - 940 Template

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Report Description

A 940 Schedule A form must be filled out in every state in which an employer has paid Federal Unemployment Tax for that tax year. This report makes filing end of year 940 tax documentation easy.

940TemplateReportManual.png

 

 

 

 

Parameters

Parameter Name

Options

Explanation

Year

List of Year or Year followed by | and Staffing Company (if Supplier property GenerateSeparateGSXMLFile

Is set to True)

Shows the Year and the staffing company from the Config Year (Admin>Employer>Config Year). The year shown is of this year or prior year. The year is shown only if there is Q4 quarter in the Config Year Supplier Quarter.

 

 

 

 

Report Fields

Field Name

Explanation

Employer identification number (EIN)

Staffing supplier FEIN

Name

Staffing supplier full name

Trade name

Not pulled

Address

Street1 address of Supplier

City

City address of Supplier

State

State from address of Supplier

ZIP code

ZipCode from address of Supplier

Foreign country name

Not pulled

Foreign province/county

Not pulled

Foreign postal code

Not pulled       

Type of Return

 

a. Amended is checked if FUTAAmendedIndicator is True from GS_Company940

b. Successor employer is checked if FUTASuccessorEmployerIndicator is True from GS_Company940

c. No payments to employees in Year (Year for which the report is run)  is checked if FUTANoPaymentsIndicator is True from GS_Company940

d. Final: Business closed or stopped paying wages is not pulled

1a   If you had to pay state unemployment tax in one state only, enter the state abbreviation .

Pulls the StateCode from GS_Company940SutaState when there is only one row of data for the year

1b  If you had to pay state unemployment tax in more than one state, you are a multi-state employer . . . . . . .

Checked if there is more than one row of data in GS_Company940SutaState for the year

2    If you paid wages in a state that is subject to CREDIT REDUCTION . . . . . . . .

Checked if there is ReductionRate for any data

3    Total payments to all employees . . . . . . . . . . . . . . . . . . .

Pulls TotalPayments from GS_Company940

4    Payments exempt from FUTA tax . . . . . . .

Pulls ExemptPayments from GS_Company940

4a Fringe benefits

Checked if FUTAFringeBenefitsIndicator from GS_Company940 is True

4b Group-term life insurance

Checked if FUTAGroupTermLifeIndicator from GS_Company940 is True

4c Retirement/Pension

Checked if FUTARetirementIndicator from GS_Company940 is True

4d Dependent care

Checked if FUTADependentCareIndicator from GS_Company940 is True

4e Other

Checked if FUTAOtherIndicator from GS_Company940 is True

5    Total of payments made to each employee in excess of $7,000 . . . . . . . . . . . . . . . .

Pulls PaymentMoreThan7000 from GS_Company940

6   Subtotal (line 4 + line 5 = line 6) . . . . . . . . . . . . . . . . . . . .

It shows the sum of 4    Payments exempt from FUTA tax . . . . . . . and 5    Total of payments made to each employee in excess of $7,000 . . . . . . . . . . . . . . . . (ExemptPayments + PaymentMoreThan7000)

7   Total taxable FUTA wages (line 3 ז line 6 = line 7) (see instructions) . . . . . . . .

It is calculated as 3    Total payments to all employees . . . . . . . . . . . . . . . . . . . - 6   Subtotal (line 4 + line 5 = line 6) . . . . . . . . . . . . . . . . . . . .

8    FUTA tax before adjustments (line 7 x .006 = line 8) . . . . . . . . . . . . .

It is calculated as 7   Total taxable FUTA wages (line 3 ז line 6 = line 7) (see instructions) . . . . . . . . * 0.006

9 If ALL of the taxable FUTA wages you paid were excluded from state unemployment tax,     multiply line 7 by .054 (line 7  .054 = line 9). Go to line 12 . . . . . . . . . . .

It is calculated as 7   Total taxable FUTA wages (line 3 ז line 6 = line 7) (see instructions) . . . . . . . .  * 0.054

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. .

Pulls FUTATaxSomeIncrease from GS_Company940

11 If credit reduction applies, enter the total from Schedule A (Form 940)  . . . . . . . .

Pulls the sum of ReductionAmount from GS_Company940SutaState

12 Total FUTA tax after adjustments (lines 8 + 9 + 10 + 11 = line 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . .

It is calculated as 8    FUTA tax before adjustments (line 7 x .006 = line 8) . . . . . . . . . . . . . + 9 If ALL of the taxable FUTA wages you paid were excluded from state unemployment tax, multiply line 7 by .054 (line 7  .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. . + 11 If credit reduction applies, enter the total from Schedule A (Form 940)  . . . . . . . .

13 FUTA tax deposited for the year, including any overpayment applied from a prior year  .

Pulls TotalDeposits from GS_Company940

14 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) . . . . . . . . . .

It is calculated as 12 Total FUTA tax after adjustments (lines 8 + 9 + 10 + 11 = line 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . - 13 FUTA tax deposited for the year, including any overpayment applied from a prior year  .

15 Overpayment (If line 13 is more than line 12, enter the excess on line 15 and check a box below.) ............................

Pulls 13 FUTA tax deposited for the year, including any overpayment applied from a prior year  . - 12 Total FUTA tax after adjustments (lines 8 + 9 + 10 + 11 = line 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . if there is a positive value

Apply to next return.

Checked if ApplyToNextReturnIndicator from GS_Company940 is True

Send a refund.

Checked if SendARefundIndicator from GS_Company940 is True

16a 1st quarter (January 1 ☐ March 31) . . . . . . . . .. . . . . . .

Pulls QuarterFUTALiability1 from GS_Company940

16b 2nd quarter (April 1 ☐ June 30)  . . . . . . . . .. . . . . . .

Pulls QuarterFUTALiability2 from GS_Company940

16c 3rd quarter (July 1 ☐ September 30) . . . . . . . . . .. . . . . . .

Pulls QuarterFUTALiability3 from GS_Company940

16d 4th quarter (October 1 ☐ December 31  . . . . . . . . .. . . . . . .

Pulls QuarterFUTALiability4 from GS_Company940

17 Total tax liability for the year (lines 16a + 16b + 16c + 16d = line 17)

Shows the sum of 16a, 16b, 16c and 16d

Yes

Checked if DesigneeIndicator from GS_Company940 is True

No

Checked if DesigneeIndicator from GS_Company940 is False

Designee's name and phone number

Pulls DesigneeName and DesigneePhone from GS_Company940

Select a 5-digit Personal Identification Number (PIN) to use when talking to IRS

Pulls DesigneePin from GS_Company940

Sign your name here

Not pulled

Date

Not pulled

Print your name here

Not pulled

Print your title here

Not pulled

Best daytime phone

Not pulled

Check if you are self-employed

Not pulled

Preparer's name

Not pulled

PIN

Not pulled

Preparer's signature

Not pulled

Date

Not pulled

Firm's name (or yours if self-employed)

Not pulled

EIN

Not pulled

Address

Not pulled

Phone

Not pulled

City

Not pulled

State

Not pulled

Zip Code

Not pulled

 

 


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