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eFile 940 with Tax1099

Important dates and due dates to eFile form 940

Filing TypeDue Date
IRS eFileFriday – January 31, 2025
IRs eFile (If taxes are already paid)Wednesday – Feb 12, 2025
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Why eFile Form 940 with Tax1099?

  • Wide support for other payroll forms - 941, 941-X, etc.
  • 24*7 Live Customer Support Available

eFiling starts at $4.99/form

How to eFile 940

Step 1: Log In

Access your account to begin the filing process. If you're new to Tax1099, you can easily create an account to get started.

Step 2: Enter Employer Information

Provide accurate and up-to-date information about your business, including employer identification numbers (EIN), business name, and address.

Step 3: Report Wage and Tax Information

Carefully input details regarding your employees' wages and the corresponding federal unemployment tax for the year.

Step 4: Review and Submit

Double-check all information for accuracy. Once satisfied, submit your Form 940 electronically for a hassle-free filing experience.

Penalties

Late filing or inaccurate reporting may lead to penalties and substantial fines on any unpaid balances. Familiarize yourself with the penalty structure since the IRS calculates the penalties based on how late you file your tax return and the amount of unpaid tax as of the original payment due date (not the extension due date).

For amounts not properly or timely deposited, the penalty rates are:
Penality Rates Deposits
2% Deposits made 1 to 5 days late
5% Deposits made 6 to 15 days late
10% Deposits made 16 days or more late, but on or before the 10th day after the date of the first notice we sent you asking for the tax you owe
10% Deposits made to an unauthorized financial institution, or payments made directly to the IRS, or paid with your tax return
10% Amounts subject to electronic deposit requirements but not deposited using EFTPS
15% Amounts still unpaid more than 10 days after the date of the first notice the IRS sent asking for the tax due or the day on which you receive notice and demand for immediate payment, whichever is earlier
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How Tax1099 can help you?

Here are some of the benefits of using Tax1099 to file your 1099 forms:

Unparalleled Accuracy

Tax1099 is meticulously crafted to ensure precise and error-free filing of your 1099 forms. By leveraging advanced technology, it minimizes the risk of costly mistakes, saving you time and reducing the likelihood of IRS penalties.

Effortless Convenience

Gone are the days of cumbersome paperwork and manual submissions. With Tax1099, you can seamlessly import data from your accounting software, streamlining the entire filing process. This unparalleled convenience empowers you to focus on what truly matters for your business.

Robust Security

Your data protection is a primary duty. Tax1099 holds both an ISO27001 and the SSAE-16 Type II certifications, a testament to its data security. These rigorous audit processes ensure that your sensitive information is handled within a framework of the highest standards of security and reliability. Your peace of mind is our top priority.

Exceptional Support

We understand that filing tax forms can be a complex and daunting task. That’s why Tax1099 offers an array of support resources to assist you at every step of the way. Our dedicated customer support team is just a phone call, email, or chat away. Rest easy knowing that expert guidance and assistance are always within reach to resolve any questions or concerns.

Frequently asked questions

If a state hasn’t paid back the money it borrowed from the federal government for unemployment benefits, it’s called a credit reduction state.

In 2023 tax year, California, Connecticut, Illinois, and New York have a credit reduction rate of 0.6% on Form 940. The U.S. Virgin Islands have a rate of 3.6%.

Tax1099 is a best option to eFile form 940 due to the below reasons: 

  • Includes all the Supporting Forms Schedule-A, 8453-EMP, & 940-V 
  • Tax1099 Supports  940 Schedule R 
  • Multiple Options to Pay Balance Due  
  • Email & Live Chat Support 

Filing 940 online offers both convenience and compliance. It is not only a user-friendly method, but IRS also mandates eFiling if you need to file 10 or more forms from TY 2023.  

Start eFiling Today