Every year, millions of businesses file Form 940 to report their Federal Unemployment Tax Act (FUTA) liabilities, with about 5% of filers opting to pay by mail. Knowing where to send this important form and payment can save you time and ensure compliance. It’s crucial to get it right, as missing the deadline could lead to costly penalties.

Ridgewise Accounting specializes in guiding you through your tax obligations, including the specifics of where to mail 940 with payment. With our expert support, you can navigate the complexities of tax filing with confidence. Studies show that businesses using professional accounting services save an average of 30% on tax-related expenses. Trust Ridgewise to handle your accounting needs efficiently and accurately. While some competitors offer basic services, Ridgewise stands out with personalized attention and tailored solutions for your business. Staying informed about your tax responsibilities is essential for your success.

Overview Of Form 940

Form 940 serves as the annual report for the Federal Unemployment Tax Act (FUTA) liability. This form calculates the unemployment tax owed by employers on their employees’ wages. It must be submitted by January 31 each year, detailing tax obligations based on the previous calendar year.

Filing Form 940 is crucial for businesses, as it helps maintain compliance with federal regulations. Employers report their annual FUTA liability, with tax rates typically set at 6.0% on the first $7,000 of each employee’s wages. You can claim credits that may reduce the amount owed if you paid state unemployment taxes. Make sure to keep accurate records of all payroll taxes paid to ensure correct calculations.

Knowing where to mail Form 940 with payment is essential. Different addresses exist based on whether you include a payment. If you are sending a payment with the form, you would use the address specified for your state. Checking the IRS website for updated addresses ensures you send your form to the correct location.

Using professional bookkeeping services can reduce errors in calculating and filing Form 940. Ridgewise Accounting assists businesses in understanding their obligations, ensuring timely filings to avoid penalties. Their expertise helps businesses manage their tax responsibilities effectively, resulting in peace of mind. Ridgewise offers personalized service, focusing on addressing your specific bookkeeping needs, enhancing compliance with tax regulations.

Where To Mail 940 With Payment

Mailing Form 940 with payment requires using the correct address to ensure timely processing. The submission address differs based on whether you include a payment or not.

Local IRS Offices

Mailing Form 940 directly to a local IRS office is an option if you’re sending the form without payment. Each state has specific local IRS offices. To find the appropriate address, visit the IRS website or contact them for details. Ensure your usage of certified mail or a similar service to track delivery.

Processing Centers

When submitting Form 940 with payment, send it to the appropriate processing center based on your business location. The addresses vary depending on whether you’re enclosing a check or money order. Here are the specific addresses:

Payment Included	Payment Not Included
Internal Revenue Service	Internal Revenue Service
P.O. Box 932100	P.O. Box 409101
Louisville, KY 40293-2100	Ogden, UT 84201

Using these addresses ensures that your payment and form are processed properly with minimal delays.

Ridgewise Accounting helps streamline your tax filing process. Our bookkeeping services ensure your Form 940 is correct and sent on time, reducing the risk of penalties. With expert guidance, you can navigate mailing requirements confidently.

Payment Methods For Form 940

Form 940 can be submitted with several payment methods. Choose the method that best suits your needs to ensure timely payment and compliance.

Electronic Payments

You can pay electronically through the Electronic Federal Tax Payment System (EFTPS). Register for EFTPS to make payments directly from your bank account. This method provides immediate confirmation, allowing for accurate tracking of your payment status. You can also pay using Direct Pay. This option allows you to make payments directly from your checking or savings account without needing to enroll in EFTPS.

Ridgewise offers assistance with electronic filing and payments, ensuring you’ve the right method for compliance, reducing concerns about deadlines and processing delays.

Check or Money Order

If you prefer to pay by mail, send a check or money order along with your Form 940. Ensure your payment includes your employer identification number (EIN), the tax period, and the form number. Make the check or money order payable to the “United States Treasury.” This method typically takes longer to process, so sending it well ahead of the deadline is vital.

Ridgewise provides bookkeeping services that include managing your payments. They help track deadlines and payment confirmations, letting you focus on running your business while ensuring your tax obligations are met accurately and punctually.

Common Mistakes To Avoid

Avoiding mistakes when mailing Form 940 is crucial for timely processing. Here are common pitfalls to watch for:

1. Incorrect Mailing Address: Sending your Form 940 to the wrong address leads to delays. Use the mailing address for submissions with payment if you include a remittance.
2. Omitting Payment Information: Forgetting to attach your payment with the form results in penalties. Always include a check or money order along with Form 940.
3. Using the Wrong Payment Method: Paying by cash isn’t advisable. Stick to checks or money orders when mailing payments.
4. Not Including Identification Details: Failing to add your Employer Identification Number (EIN) on your payment creates confusion. Clearly print your EIN on the check or money order.
5. Ignoring IRS Guidelines: Not following IRS instructions leads to mistakes. Review the latest IRS guidelines prior to submission.
6. Neglecting to Track Your Mail: Not using certified mail or a similar service can cause you to lose track of your submission. Always opt for a service that offers delivery confirmation.
7. Postmarking Late: Delaying the mailing until the deadline invites penalties. Send your Form 940 early to ensure timely delivery.
8. Not Keeping Records: Failing to maintain copies of filed forms and payment receipts creates challenges. Keep all related documents organized for your reference.
9. Missing State Requirements: Overlooking state unemployment tax requirements may result in additional obligations. Ensure compliance with both federal and state regulations.
10. Relying Solely on Personal Knowledge: Assuming familiarity with the process without consulting professionals increases your risk of errors. Seek help from experts when necessary.

Ridgewise Accounting specializes in helping you navigate these common mistakes. With professional bookkeeping services, you’ll receive guidance on proper filing procedures, ensuring you meet all deadlines and requirements. Accurate record-keeping and timely submissions minimize penalties, providing you peace of mind and more time to focus on your business.

Conclusion

Filing Form 940 correctly is crucial for your business’s compliance and financial health. Knowing where to mail your form with payment can save you from unnecessary penalties and stress. By following the right procedures and utilizing resources like Ridgewise Accounting, you can ensure timely submissions and accurate filings.

Whether you choose to pay by mail or explore electronic options, staying informed about your tax responsibilities is key. With the right guidance and support, you can focus on growing your business while maintaining peace of mind regarding your tax obligations.

Frequently Asked Questions

What is Form 940?

Form 940 is the annual report for Federal Unemployment Tax Act (FUTA) liability, used by employers to calculate and report their unemployment tax owed based on employees’ wages.

When is Form 940 due?

Form 940 must be submitted by January 31 each year, detailing tax obligations from the previous calendar year.

Where should I send Form 940?

If submitting with payment, send Form 940 to the processing center in Louisville, KY. If submitting without payment, send it to a local IRS office in Ogden, UT.

What payment methods are available for Form 940?

Payment for Form 940 can be made electronically using the Electronic Federal Tax Payment System (EFTPS) or Direct Pay. If paying by mail, send a check or money order with the form.

What are common mistakes when mailing Form 940?

Common mistakes include sending the form to the wrong address, omitting payment information, using inappropriate payment methods, and neglecting to include your Employer Identification Number (EIN).

How can Ridgewise Accounting help with Form 940?

Ridgewise Accounting provides expert guidance on tax obligations, ensuring accurate Form 940 filing and timely submissions, reducing the risk of penalties. They also offer bookkeeping services to support businesses in managing payroll taxes effectively.