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1999 Form 940-PR - IRS - irs

1999 Form 940-PR - IRS - irs-2025

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The document is the 1999 Form 940-PR, used by employers in Puerto Rico to report their annual Federal Unemployment Tax Act (FUTA) contributions. It includes sections for employer information, computation of taxable wages, exemptions, and details on contributions owed or refunded. The form requires employers to calculate total wages paid, exempt wages, and federal unemployment contributions while providing instructions for completion and submission.

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Click ‘Get Form’ to open it in the editor.
Begin by entering your legal name and business name, if applicable, along with your Employer Identification Number (EIN) and address in the designated fields.
In Part I, calculate the total wages paid to employees during the calendar year. Include all remuneration as specified in lines 2 and 3.
Complete line 2 for exempt wages, providing explanations on additional sheets if necessary. Then, record any wages exceeding $7,000 per employee in line 3.
Proceed to Part II and answer questions regarding contributions made to Puerto Rico's unemployment fund. Fill in amounts where required.
In Part III, calculate the federal unemployment contribution based on total wages from Part I. Ensure you complete all relevant columns for state contributions.
Finally, review all entries for accuracy before signing and dating the form at the bottom of the last page.

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Whats the difference between form 940 and 941?

Form 940 is used to report FUTA taxes, while Form 941 is used to report federal income tax withheld, Social Security, and Medicare tax withholding.

What happens if I dont file form 940?

The amount of a failure-to-file penalty is 5% of the unpaid tax due with the return for each month a taxpayer doesnt file the form. The maximum FTF penalty is 25% of the unpaid tax.

Who needs to file IRS form 940?

Each year, every business with employees must file Form 940 to compute the amount of unemployment tax that must be paid on the federal level. This payroll tax is based on the first $7,000 of each employees wages (including owners of S corporations who receive a salary for work performed for their businesses).

Do I have to file both 940 and 941?

Form 940 is required for businesses who are subject to Federal Unemployment (FUTA). The 940 is an annual federal tax form used to report wages subject to and taxes paid for FUTA. This form is separate from the 941, 944, and 943 forms.

Does an LLC have to file form 940?

Any LLC with employees will also need to file Form 940, which is the Employers Annual Federal Unemployment (FUTA) Tax Return and Form 941, which is the Employers Quarterly Federal Tax Return, or Form 944, the Employers Annual Federal Tax Return.

What is the IRS form 940 PR?

Use Form 940 to report your annual Federal Unemployment Tax Act (FUTA) tax. Together with state unemployment tax systems, the FUTA tax provides funds for paying unemployment compensation to workers who have lost their jobs. Most employers pay both a federal and a state unemployment tax. Only employers pay FUTA tax.

1999 Form 940-PR - IRS - irs-2025

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