What is a Form 940 Amendment and Who Should File it?

Correcting errors on Form 940 is simple with TaxBandits.

You may have heard of the Form 940 Amendment and wondered what is its purpose, when should it be filed, or do I need to file this for my business?

In this blog, we will be answering all of those questions and more when it comes to this form.

Background on Form 940

Before we get into the Form 940 Amendment, let’s take a moment to review the Form 940 and its purpose. Form 940 is the Employer’s Annual Federal Unemployment Tax Return.

Employers that are required to pay Federal Unemployment (FUTA) taxes are required to report these payments on Form 940. This form is filed annually with the IRS. These taxes specifically apply to the first $7,000 of wages that are paid to the employee.

The deadline for filing Form 940 with the IRS each year is January 31st.

What is the Form 940 Amendment?

The Form 940 Amendment is basically a corrections form for Form 940. If you notice certain mistakes on Form 940, you can file this form to correct them.

How do you File a Form 940 Amendment?

The IRS does not currently accept this form electronically. This means that businesses that need to file this form will need to mail a paper copy to the IRS.

When completing the 940 Amendment, it is important to enter all updated information that should have appeared on the original Form 940.

Can you File a Form 940 Amendment with TaxBandits?

Yes! You can easily complete your Form 940 Amendment with TaxBandits. While there is no option available from the IRS for e-filing, you can prepare the form with TaxBandits.

You can still take advantage of built-in error checks and our easy filing process. When the form is complete, simply download it, print a copy, and mail it to the IRS.

Not sure where to mail your Form 940 Amendment? Click here for more information!

Ready to get started? Create your free TaxBandits account today to start filing Form 940 amendments and so much more!