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IRS Form 940 and Unemployment 1 Credit

Jan 02, 2025, 01:30 PM ET

IRS Form 940 and Unemployment 1 Credit

  • Rating

    4.4

  • Published on

    January, 2024

  • Subject Area

    Taxes

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Jan 02, 2025, 01:30 PM ET

Learning Objective

  • To analyze who and what earnings are subject to unemployment taxes.
  • To discuss Form 940 changes and common mistakes made.
  • To explain how FUTA & SUTA interact and why it is important to understand.
  • To discuss the status of the state unemployment system and how it will affect your job in the coming years.
  • To review FUTA tax rate, tax depositing, and inspect the details of the FUTA Credit Reductions.
  • To analyze how to reduce and maintain your SUI rates.

Course Overview

Are you up-to-date with the latest shifts in unemployment taxes? Join us for an enlightening webinar titled "IRS Form 940 and Unemployment," aimed at unraveling the intricate modifications in federal Form 940 and state-specific unemployment adjustments. In recent times, the landscape of payroll has witnessed significant alterations, compelling payroll professionals to navigate an evolving system that impacts both employers and employees alike.

Amidst economic transformations and frequent legislative updates, the complexity surrounding unemployment taxes has heightened, demanding a thorough understanding of these changes. Our webinar provides a comprehensive exploration of the current state of the unemployment system, shedding light on its implications for professionals in the payroll domain. Understanding the intricate nuances of which earnings fall under unemployment tax purview and an in-depth analysis of FUTA tax rates and deposits are central to this insightful course.

Dive into critical aspects such as Form 940 alterations, common pitfalls to avoid, the symbiotic relationship between FUTA and SUTA, and the pivotal role of comprehending these interactions in effective payroll management. Gain valuable insights into the impact of state unemployment systems on your role and discover strategies to leverage FUTA Credit Reductions. 

Key Topics covered in this course:

  • FUTA Basics: Understanding who & what is subject to FUTA tax; Understanding the FUTA tax rate; and Depositing FUTA Tax
  • Form 940: Basics of Form 940; Changes to Form 940; and Common Mistakes
  • FUTA and state unemployment taxes
    • How FUTA & SUTA interact and why it is so important to understand
    • Recent changes to SUTA to keep up to date on

Join this CE Tax webinar to proactively equip yourself with the knowledge and tools needed to navigate the ever-evolving challenges posed by the shifting terrain of unemployment taxes, ensuring a robust and informed approach to payroll management for the future.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01802-23-S) 1 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-01802-23-S) 1 CE Approved
Business Acumen for SHRM Professionals (Approval No. 26-2P9GJ) (Valid upto : Dec 31, 2026) 1 PDC Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1443) 1 CE Approved
HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 686802) (Valid upto : Nov 30, 2025) 1 RCH Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01802-23-S) 1 CE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01802-23-S) 1 CE Eligible
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01802-23-S) 1 CE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01802-23-O) 1 CE Approved
Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-01802-23-O) 1 CE Approved
Business Acumen for SHRM Professionals (Approval No. 26-2P9GJ) (Valid upto : Dec 31, 2026) 1 PDC Approved
Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1443) 1 CE Approved
HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 686802) (Valid upto : Nov 30, 2025) 1 RCH Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Eligible
Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01802-23-O) 1 CE Approved
Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01802-23-O) 1 CE Eligible
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Eligible
Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01802-23-O) 1 CE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

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Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent. 

About Instructor

Advance Your Career with Expert CE Courses by Dayna Reum

Dayna Reum

Specialist, Ann & Robert H. Lurie Children's Hospital of Chicago

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Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years.

She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc. 

During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service and acquisitions, and divestiture.

She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA.

Dayna is also a CPP (Certified Payroll Professional) through the APA and certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.


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Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

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To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

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What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

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DM

Debra Mcewen, AFSP

5

Good information but I have a hard time unlocking the test even after I do the quiz.

SM

Suzanne Mann, EA

5

Since I was unsure of the state credits for FUTA, this class was very informative.

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