Federal Unemployment Tax (FUTA) is paid and reported in one step at the end of the calendar year and Monchilla makes this easy to do.
Note: If you have more than 12 employees you may need to make quarterly deposits. Email firstname.lastname@example.org if you think this might apply to you and we will help you make sure.
- Click the Reports tab.
- On the left side of the screen, select the 940 Form filter.
- The 940 form is completed for you and a preview is displayed. Scroll to the bottom and click the Save button.
- Select the 940 form and click the E-file button.
Note: If you haven't already Enabled Electronic Payment and Filing of Taxes you should do that now and then return to step 4.
Your 940 form will be sent to the IRS and the amount due will be drawn from your account and deposited with the government.