A Quick Guide to File Form 940 in QuickBooks

File Form 940 in QuickBooks is an annual tax form that only businesses are liable to pay, whereas there are no deductions of taxes made from employees’ wages.

Users can electronically pay tax and file using Form 940 in QuickBooks to federal agencies. It is also advised to update your tax table regularly as it calculates the amount of tax you are required to pay as per the government’s latest guidelines. Finally, this article will talk about how to manually pay And file form 940 In QuickBooks Desktop Payroll Basic/Standard.

If you are unable to follow the steps, you can call us at +1(855)-738-0359 to get guidance from our technical team.

Easy Steps To Manually Pay And File Form 940 In QuickBooks Desktop Payroll Basic/Standard

The process of filing Form 940 in QuickBooks Desktop Payroll Basic/Standard needs the users to manually schedule tax payments and create a form for their employees, and they also have to manually send the form to their agencies. You can pay manually and file Form 940 for an enhanced version if you cannot e-pay or e-file them. These are the steps you need to follow:-

Step 1: Generate a scheduled Payment.

QuickBooks’ scheduled payments allow you to track when your payroll taxes are due so that you don’t forget them.

• Navigate to the Employees menu then you need to choose Payroll Taxes and Liabilities.

• Then click Edit Payments Due Dates/Methods and tap on Scheduled Payments.

• Select Form 940 from the list, and press Edit and go to Payments Method.

• Choose Check and enter the required credentials for your account.

• Select Payments Frequency based on your state guidelines and tap on Continue.

• Choose the bank account you wish to use for tracking payments in QuickBooks, and then you need to select Edit.

• Now, this should be the same as the bank you used while registering with IRS and state agencies, and tap on Finish once you are done.

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Step 2: Create and print your tax payments

You can keep track of federal tax payments in QuickBooks, as the payment will be made electronically through the IRS website. You can generate and print a check to send to the state authorities for state tax payments:-

• Go to the Employees menu, select Payroll Taxes and Liabilities, then choose Pay Scheduled Liabilities.

• Select Form 940 from the list and tap on View/Pay.

• You can check the amount you are paying in tax, click on Save & Close, then hit Print Checks.

Conclusion

Through File Form 940 in QuickBooks, users can electronically pay tax and file. This article is a perfect guide to file form 940, and if you need assistance from our support team, you can contact us at +1(855)-738-0359.