IRS Form 940 is the federal unemployment tax annual report. Employers must report and pay unemployment taxes to the IRS for their employees. They don't deduct these employment taxes from employee pay, but they must set aside the appropriate amount and report it on Form 940. Key Takeaways IRS...
Learn about the IRS 1099 Form: See what it's for, who gets it, how to fix mistakes, the different kinds, and why e-filing makes it easier.
What is the FUTA tax credit? If an employer also pays wages subject to SUTA, they may receive up to a 5.4% credit on FUTA taxes when filing a Form 940, the Employer's Annual Federal Unemployment Tax Return. If an employer pays their SUTA taxes in full, they are entitled to the maxim...
When does the IRS update Form 941? What is Form 940 Schedule B? How do you avoid Form 941 penalties? What is Form 941? Form 941 is a document the IRS requires employers to file quarterly to report the amount of income tax withholding and Federal Insurance Contributions Act (FICA) tax ow...
Rates have been coming down ever since, starting in the 1980s Reagan administration. As of the 2025 tax year, there are seven federal tax brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.8 It is probably no coincidence that the U.S. debt has ballooned during the modern era, ...
And this is the first year in quite a while that federal income tax returns are actually due on April 15. Related: Filing 2025 Taxes: What's My Tax Bracket? Here’s what you need to know about filing your taxes for 2023 and making the most of your benefits: How Does Filing Taxes ...
In addition to sectoral privacy laws, the U.S. is experiencing a massive drive toward pushing privacy legislation at the state level. That’s because the federal government hasn’t been able to find a consensus on how to legislate broadly. Rather than wait, state lawmakers have been nudged ...
If you're currently paying off a student loan, you may get Form 1098-E in the mail from each of your lenders. Your lenders have to report how much interest you pay annually. Student loan interest can be deductible on federal tax returns, but receiving a
Over the last century, average annual inflation in the U.S. has ranged from upwards of 10% to lows of -10%. Ideally, the Federal Reserve aims to reach a target inflation rate of 2% to 3% in the long term. This rate represents a balance between inflation that is too high, causing...
Interest income for Series I bonds is taxable at the federal level, but not at the state and local levels. The series I bond is azero-coupon bond, meaning that no interest is paid during the life of the bond. The interest is, instead, added back to the value of the bond and earns ...