Help with FUTA Form 940

[StevenL]

Hello All,

I received a call from a potential client the other day. He told me he received an IRS notice that he had not filed his form 940 for 2010 and wanted to know if I could help him with it. I told him that I have never completed a form 940 before but as long as he was ok with it that I would like to try my hand at completing this form for him. He said he was ok with it so we will be meeting tomorrow to discuss it further. I have been studying the form and it instructions and I believe I can complete his form him. For now I have a few basic questions that I woul like your help/opinion on.

1. Do you have any advice on completing this form? Do you find it easy or difficult?, He has an S-Corp with one employee.

2. How much do you normally charge for completing this form for your clients?

Thanks for your help,

StevenL

[ILLMAS]

1. Have him/her bring a copy of the quarterly returns for the year in question.

2. Prepare it using ATX

3. Combine the wages on the 941's and put on line 3, ATX will automatically calculate a tax of $56

4. Fill out page 2 using the quarterly returns

5. Fill in your company information and sign it.

6. Have them sign, date and submit payment with voucher (prints automatically in ATX)

I would charge between $20 or $40 for this form, $60 if he needs it the same day

MAS

[rfassett]

Form 940 can be extremely simple or very difficult depending on the circumstances. Tell him to bring all of his payroll records, including proof of state unemployment payments (timing and amount), for 2010 because you will need them to properly prepare the Form 940. Find out who does his payroll because this should have been done when the annual payroll reports were filed.