Form 940 - Exempt payments
US QuickBooks Premier : 2012: Accountant
I am preparing Form 940 and under the payments exempt form FUTA tax, do I include matching IRA Simple payments that has yet to be paid by the employer?
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01/17/12 10:21am PST
Viewed by asker 04/27/12 11:06am PDT
Viewed by asker 04/27/12 11:06am PDT
1 Reply
RekaUjj
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The solution
Matching IRA Simple: is this the company portion? I mean that this portion is NOT deducted from the employees, but it is an expese to the company.
If my guess is right, than this payment is not part of the compensation. It should NOT be included on any wages box of the the W-2, neither on the 941, 940, or state unemployment form. So it is not really "exempt", because it is not included in the wages/compensation.
Reka
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