thanks for the video! But I need to know how to file the last $4.13 that I owe.... we paid the majority due ($84 grand total due for the year) in the 1st Qtr, but need to pay $4.13 more to finish paying it off for this year (2024), but I don't know if I need to do that, or if I can just wait till the end of the year and file the 940 for '24 in 2025 and pay the $4.13 then? Any help would be appreciated!
To make sure that I understand, the $4.13 that you owe--was that from 2024? If so, then you can pay the $4.13 at any point during the 2024 year, and you'd probably be okay. To be sure, you'd double check the calculations in Part 5 but this isn't required, since your total FUTA (Line 12) is less than $500. If this were for the 2023 year, then you'd have to file the same form (there is no Form 940-X), then amend it to include the $4.13. I'm sure that a tax professional who would charge for an amended return might recommend something different, since the $4.13 and any penalties or interest probably would still be less than the cost of an amended return, but that's technically the correct approach. If you simply want to pay the $4.13 for the prior tax year, you should be able to do that online through the Treasury Department's payment portal: www.eftps.gov/. You would walk through the prompts to make sure that it's applied to the correct tax return and for the correct year.
thanks for the video! But I need to know how to file the last $4.13 that I owe.... we paid the majority due ($84 grand total due for the year) in the 1st Qtr, but need to pay $4.13 more to finish paying it off for this year (2024), but I don't know if I need to do that, or if I can just wait till the end of the year and file the 940 for '24 in 2025 and pay the $4.13 then? Any help would be appreciated!
To make sure that I understand, the $4.13 that you owe--was that from 2024? If so, then you can pay the $4.13 at any point during the 2024 year, and you'd probably be okay. To be sure, you'd double check the calculations in Part 5 but this isn't required, since your total FUTA (Line 12) is less than $500.
If this were for the 2023 year, then you'd have to file the same form (there is no Form 940-X), then amend it to include the $4.13. I'm sure that a tax professional who would charge for an amended return might recommend something different, since the $4.13 and any penalties or interest probably would still be less than the cost of an amended return, but that's technically the correct approach.
If you simply want to pay the $4.13 for the prior tax year, you should be able to do that online through the Treasury Department's payment portal: www.eftps.gov/. You would walk through the prompts to make sure that it's applied to the correct tax return and for the correct year.