When You May Pay FUTA Taxes Annually with Form 940

You are only required to deposit FUTA taxes if the liability during any quarter exceeds $500. However, if you expect to pay less than $500 in FUTA taxes for the year, you can pay the tax with your Form 940 return, which is due and payable January 31, of the following tax year.

For tax year 2015, FUTA taxes are due and payable February 1, 2016 because January 31 falls on a Sunday.

Pay FUTA Taxes Online

You can also pay FUTA taxes online and get confirmation of your payment using the IRS Electronic Federal Tax Payment System (EFTPS).

To enroll in EFTPS, call 1-800-555-4477 or visit the EFTPS website at www.eftps.gov.

If your business is new, the IRS will automatically pre-enroll you in EFTPS when you apply for an Employee Identification Number (EIN) .

  • Getting your EIN online is quick, easy, and you can download it immediately.
  • Keep the printout for your records.

cautionTo make your EFTPS payment on time, make sure you initiate the transaction at least one business day before the deposit due date.

File your personal and small business taxes (Schedule C)