IRS Form 940 and Unemployment Update
For years the only changes payroll professionals had to worry about was normal rate changes for state unemployment each 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.
This webinar will review the necessary updates on where our unemployment system is and how this will affect the way payroll professionals will do their jobs now and into the future.
- 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
Dayna is currently the Payroll Tax Manager at PetSmart Inc. Dayna has been heavily involved in the payroll field over 15 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teach... View Full Profile