Saturday, January 17, 2009 Part 2

Federal 940 filing.

The online small business tax calendar on the IRS website is great. While I did research when I started to find all of the taxes and filing I needed to take care of, this calendar makes things easy (unlike most everything else…). Just search the IRS site for “tax calendar” and you should find it.

So my next thing to take care of is the annual federal unemployment tax form (form due February 1st). While I made estimated payments, the annual form still needs to be filed. This time I didn’t see any online services that I could use to file it (ugh). It’s a pretty simple form, and seeing as I pay state unemployment tax, the federal rate is only 0.008% capped at $7000 ($56 total). I filled out the form, now it’s just a matter of sending it. The major negative of paper filing is not knowing the outcome unless something bad happens (they don’t get it, there was an error, or they didn’t like it for whatever reason).

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