How to File the Form 940 in QuickBooks Desktop & Online?

The IRS needs businesses with employees to file federal payroll forms. There are four different federal payroll forms: 941, 944, 943, and 940. The IRS determines which forms you file based on the amount of federal taxes you accrue each year and whether you’re an agricultural business. In this blog, we have explained everything regarding the file and printing Form 940 in QuickBooks.

Table of Contents

How to E-File & E-Pay Federal Taxes in QuickBooks Desktop Payroll Enhanced?

Herein, we have provided the stepwise instructions to e-file and e-pay federal taxes in the QuickBooks Desktop Payroll Enhanced version.

First Step – Set Up Your Federal E-File & E-Pay

You first need to register and then set up the federal taxes e-payment.

Register & Then Set Up Federal Taxes E-Payment

Step 1: Get the Enrollment Done Within the Electronic Federal Tax Payment System

Registering when the business is initiated after 2011

It’s necessary to register once with the EFTPS. In case you aren’t sure whether you have registered, connect with the IRS immediately.

Registering when the business is initiated before 2011

Move to the EFTPS.gov website and tap on the Enrollment tab.
After this, use the guidelines given on the screen for the submission of the enrollment.
Now, within the 7 to 10 business days, the user will get their PIN along with their enrollment number through the mail.
- Tip: When the payment is done before getting the PIN, you need to contact the IRS within two business days after completing the enrollment. After this, if the data given by you matches the IRS records, an agent can get the payment. However, due to certain security measures, the agent will not give you a PIN over the phone.
. After getting the 4-digit EFTPS PIN, perform these steps:
- Browse to the EFTPS.gov website again.
- Head to the Login tab and provide the necessary details. It may include EIN, 4-digit EFTPS PIN, bank account, or the last eight digits of your enrollment number.
- Finally, resume with the process ahead for generating your password.

Step 2: Arrange & Then Set Up Your Tax Payments to E-Pay

Move to the Employees menu from the top and click on the Payroll Taxes & Liabilities tab.
Now, head to the Edit payment Due Dates/Methods option > Schedule Payments > Federal 941/944/943.
Modify your payment method according to your preference to E-pay.
Choose your payment frequency and head to the E-Pay accounts tab. Herein, pick the account type, and ascertain that the bank information is up-to-date.
Complete the procedure by hitting the Finish tab.

Register & Set Up for E-Filing

Stage 1: Start Setting Up Your Federal Filing Method

Access the Employees menu, and from the extended list, tap on Payroll Tax Forms & W-2s. Then, hit the Process Payroll Forms.
Within the Other Activities list, opt for the Manage Filing Methods option.
Now, head to the Filing Method and click on a federal form (Federal 941/944/943 or Federal Form 940). Then, choose the Edit option.
Look beneath the Select how you want to file the form option and tap on the Filing As Responsible Individual (Owner/Partner/Corporate Officer) for a single FEIN option.
Conclude the process by clicking the E-File and then the Finish tab.

Stage 2: Get The Enrollment Done Within the E-file Program

Firstly, below the Filing Methods screen, click the Enrollments tab.
Tap on IRS, then the Edit option.
Now, use the instructions given on the screen, check the EIN, and then provide your company’s legal name. Also, insert the company’s address and hit the Next tab.
Insert the necessary details regarding the person whom the IRS can contact for enrollment and your payroll tax forms.
- Name
- Job Title
- Email address
- Phone number and click on IRS.
Tip: The information provided by the person who is connected with your company shouldn’t be from a third-party provider or an accountant.
Complete the process by clicking the Send Information tab.

Second Step: E-Pay Your Federal Taxes

The following are the key points you must remember to ensure that the federal tax payments are made on time.

You have to make the payment via the IRS EFTPS website within the next banking day when your federal tax liability exceeds $100,000.
Also, verify that you sent the e-payments before 5:00 PM PT two banking days prior to the due date. If the payment is made after this date, you must make the payment via the IRS EFTPS website.

E-Pay in QuickBooks Desktop

Firstly, choose the Employees menu and tap on Payroll Center.
Head to the Pay Liabilities tab.
Now, pick the liability to pay and tap on the View/Pay button.
Start verifying the liability details for accuracy and hit the E-Pay option.
Insert the 4-digit EFTPS PIN and other login details correctly.
Now, tap on the Submit option.
Later on, begin printing the confirmation notice that appears, indicating that Intuit has received your request. Then, submit your e-payment to the correct agency.
Finally, click the Close tab. Then, you will obtain an email confirmation within 24-48 hours.

Third Step: E-Filing of the Federal Forms

Initially, tap on the Employees menu > Payroll Tax Forms and W-2s > Process Payroll Forms.
After this, pick the federal form you wish to file from the list.
Choose the Create Form option and opt for the form filing period. Then, hit OK.
Now, begin verifying every part of the form. Alternatively, you can also go with the Check for Errors tab and then make the necessary changes.
Head to the Submit Form option and click the E-File option.
At last, insert your 10-digit IRS E-file PIN. Then, perform the on-screen guidelines for filing the form.

How to Pay & File Form 940 Electronically in QuickBooks Online Payroll?

Herein, we have explained the complete procedure for electronically filing the Form 940 in QuickBooks Online Payroll.

First Step: E-Pay Your Taxes

You will get an email informing you when your taxes are outstanding. Herein, take care of the following things:

At the time of e-filing your taxes, both the IRS and state agencies have different processing times. For that, you have to e-pay them within five business days before the due date.
Also, it’s essential to ensure that you have sufficient funds if your payroll taxes are outstanding and for generating the tax payment.

In case you wish to record a tax payment outside of QuickBooks, you must record the previous tax payments.
Initially, hit the Payments option.
With this, you will obtain a list of taxes due now under Action Needed. Thereon, the Taxes due later will reflect within the Coming Up section. Alternatively, you may also choose Filter to find the specific tax you want to pay faster.
Now, hit the Pay tab for the tax you wish to pay.
Note: You have the option of making the late payments to the IRS, but some states might block you. For that, you must connect with the state to make the payment.
After this, verify that the Bank Account is the right payroll account from your charts of accounts in QuickBooks. It won’t affect the actual bank account you utilize.
Go through your payment date and then pick a different date before the processing deadline if required.
Furthermore, choose the E-Pay option.
Finally, to check out the payments that are made, hit the Payment History option.

Second Step: E-file your tax forms

Whenever the tax forms are pending, you will get reminders for the same.

The due date for the 941 and state unemployment tax forms is usually due each calendar quarter.
Whereas, for the tax forms 943, 944, 940, and some state withholding tax forms are due at the end of the year.

To begin the process, ensure that you have paid all taxes related to the form you want to file (refer to Step 1).
After this, head to the Filings tab.
Consequently, you will see that your forms appear beneath the Action Needed column. Furthermore, the forms due later will appear within the Coming Up section. Herein, you can apply a Filter to get the specific form you need faster.
Now, hit the File menu from the form you want to file.
Next, verify that the checkbox of the File Electronically box is selected.
Tap on the Submit option.
With this, you will find your field form under Don. Later on, you can print them if required.

How to File a Corrected Federal Form 940 in QuickBooks Desktop Payroll?

Have you made any mistakes on your federal tax form 940, and want to make the important tax entries? In that case, you must file an amended tax form for Form 940. For that, you must carry on with the step-by-step instructions outlined below.

First Step: Determine Which Form To Use

You need to file the Form 940 as soon as you spot the error while filing the federal form. Therefore, to address the error, you can file the following forms.

Form 941-X for the federal tax form 941
However, for the federal Form 940, you won’t require any X form. Herein, you only require access to the federal Form 940 from the year it was originally filed.

Second Step: Understand Your Amendment Forms

What You Can Rectify

Form 940-

You must access the federal Form 940 from the same year in which it’s filed. Then, you must verify the amended return box in the top right corner of Form 940, page 1, box a. Later on, complete all the amounts mentioned on your original form.

Third Step: Get Ready & Then File Your Amendment Forms

At the time of filing for an amendment form, access the paper return even when you have e-filed the original form. Then, you must ensure that you have done the essential liability adjustments before generating an amended return.

Amend Form 940

The following are the step-by-step instructions to amend Form 940 in QuickBooks Desktop:

Choose the Employees menu from the top and click Payroll Tax Forms & W-2s.
Now, head to the Process Payroll Forms.
When you are in the File Forms section, hit the Annual Form 940/Sch. A – Employer’s Annual Federal Unemployment (FUTA) Tax Return.
Thereon, hit the Create Form option and provide the year of the file period you wish to correct.
Tick-mark the box for the Amended Return and hit the Next tab.
Go through the amounts on page 2 to ensure these are the amounts which is mentioned on the original form.
At last, attach a detailed explanation of why you are amending your return.

Conclusion

Form 940 in QuickBooks is an important IRS tax form required for businesses that are subject to Federal Unemployment (FUTA). Moreover, it is used to report the wages subject to and taxes paid for FUTA. We hope that this post has guided you throughout the filing and printing of the Form 940. Furthermore, if you still require any additional help, take help from our BizBooksAdvice professionals.

Frequently Asked Questions (FAQ’s):-

Question 1: Where do I find Form 940 in QuickBooks?

Ans. To get the Form 940 in QuickBooks, you must carry out the following steps.

Choose the Taxes tab from the taskbar and click the Payroll Tax option.
Below the Forms section, go with the Annual Tax Forms option.
Hit the 940 Form link and head to the View tab.
When you are on the ViewPDF Form page, select the Print icon and begin printing the form.

Question 2: What’s the main difference between Form 940 and Form 941?

Ans. The Form 940 is used to report the FUTA Taxes, and the Form 941 is used for reporting federal income tax withheld, Social Security, and Medicare tax withholding.

Question 3: How to edit 940 in QuickBooks Online?

Ans. To edit Form 941 in QuickBooks Online, carry on with these steps.

Browse to the Taxes menu, click the Payroll Tax > Payments tab.
Hit the Record Tax payments and then do the necessary modifications to the Date Range.
Once you modify the payment, click on Details > Edit Payment.
Finally, modify the tax payment and hit the Update payment option.

Question 4: Who submits Form 940?

Ans. The employers have to submit the Form 940 for reporting how much they owe in FUTA taxes. You can submit the Form 940 electronically or via mail by January 31st every year. If required, then employers can submit the amended 940 form.

Question 5: How to print Form 940 in QBO?

Ans. To print Form 940 in QuickBooks Online, you must perform the following steps.

Go to the Payroll Tax tab and choose the Annual Tax Forms below the Forms section.
Access the 940 option and then hit the View tab.
When you are on the ViewPDFForm page and tap on the Print icon.

About The Author

Jonathan Browns

Jonathan Brown is a trained QuickBooks professional with 10 years of experience in the accounting sector. Moreover, he is passionate about helping businesses reduce the stress of managing accounts. Also, he is proficient in assisting entrepreneurs and small business owners to use QuickBooks and enhance their accounting experience.

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