File Form 940, the Employer’s Annual Federal Unemployment (FUTA) Tax Return, by January 31. You may find your business eligible for the February 10 deadline if you deposited all your FUTA tax when it was due. File your return on the next business day if the tax return due date lands on a Saturday, Sunday, or legal holiday.
Form 940 covers a calendar year. Keep in mind that you may need to deposit your business’s FUTA tax prior to filing your return. Deposit a minimum of one quarterly payment if the FUTA tax liability exceeds $500 for the calendar year. Continue to carry your tax liability forward until it is more than $500, if it is that amount or less in a quarter. Make a deposit or pay the tax with Form 940 by January 31 if your FUTA tax liability is $500 or less for the fourth quarter (including previous undeposited amounts).