1. IRS Form 940 and Unemployment: Planning for 2020

IRS Form 940 and Unemployment: Planning for 2020

Event ID: 76020
Session ID: 17363
Date: Thursday, January 9, 2020; 2 PM Eastern
Duration: Scheduled for 90 minutes including question and answer period.
Presenter(s): Dayna J. Reum CPP, FPC, Payroll Training Consultant
Credits: 1.5 HRCI, 1.5 SHRM

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IRS Form 940 and Unemployment: Planning for 2020

For a long time the only changes payroll professionals had to worry about were normal rate changes for state unemployment every year. But in recent years the IRS has made updates to the federal Form 940 and states are in a much different position financially regarding unemployment benefits. Because several states are faced with depleted funds, changes are occurring on payroll unemployment taxes.

Please join Dayna Reum as she reviews the necessary updates on where the unemployment system is and how this will affect the way payroll professionals will do their jobs now and into the future.


Learning Objectives:

  • Understanding who and what earnings are subject to unemployment taxes
  • A review of FUTA tax rate and tax depositing
  • Discuss Form 940 changes and common mistakes made
  • How FUTA & SUTA interact and why it is important to understand
  • Discussion on the status of the state unemployment system and how it will affect your job in the coming years
  • Details of the FUTA Credit Reductions
  • What is the SIDES program and what its impact will be
  • How to reduce and maintain your SUI rates

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