Real Business Solutions

It’s this time of the year when businesses need to fill out, print and mail form 940 (for 2009, filed in 2010). The tutorial below will show you how to use our Payroll Mate payroll solution to prepare 2009 940 (due February 1, 2010 ). If you haven’t installed Payroll Mate yet, do so by downloading a free payroll software demo by going to http://www.realtaxtools.com .

2009 940 – Step 1:

Start Payroll Mate payroll software by clicking on the Payroll Mate 2009 icon on the desktop.

2009 940 – Step 2:

From the navigation bar on the left click on the “Forms” button.

2009 940 – Step 3:

Click on the button named “940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return)”. This will open the 2009 940 form screen.

2009 940 – Step 4:

Under the type of Return for 2009 940 check one or more of the following: “Amended” ,  “Successor employer” , “No payments to employees in 2009″ or “Final: Business closed or stopped paying wages”.

2009 940 – Step 5:

Verify the state abbreviation. The following values are acceptable: Alabama (AL) , Alaska (AK) , Arizona (AZ) , Arkansas (AR) , California (CA) , Colorado (CO) , Connecticut (CT) , Delaware (DE) , District of Columbia (DC) , Florida (FL) , Georgia (GA) , Hawaii (HI) , Idaho (ID) , Illinois (IL) , Indiana (IN) , Iowa (IA) , Kansas (KS) , Kentucky (KY) , Louisiana (LA) , Maine (ME) , Maryland (MD) , Massachusetts (MA) , Michigan (MI) , Minnesota (MN) , Mississippi (MS) , Missouri (MO) , Montana (MT) , Nebraska (NE) , Nevada (NV) , New Hampshire (NH) , New Jersey (NJ) , New Mexico (NM) , New York (NY) , North Carolina (NC) , North Dakota (ND) , Ohio (OH) , Oklahoma (OK) , Oregon (OR) , Pennsylvania (PA) , Rhode Island (RI) , South Carolina (SC) , South Dakota (SD) , Tennessee (TN) , Texas (TX) , Utah (UT) , Vermont (VT) , Virginia (VA) , Washington (WA) , West Virginia (WV) , Wisconsin (WI) , Wyoming (WY)

2009 940 – Step 6:

Review the numbers generated by Payroll Mate for part 2 “Part 2: Determine your FUTA tax before adjustments for 2009. If any line does NOT apply, leave it blank.” . This includes “Total payments to all employees” on this 940 for 2009 form. This also include 2009 Payments exempt from FUTA tax and Total of payments made to each employee in excess of $7,000 in tax year 2009.

2009 940 – Step 7:

Verify  any adjustments you have under “Part 3: Determine your adjustments. If any line does NOT apply, leave it blank.”  Payroll Mate 2009 will auto populate these numbers on form 940 2009 based on the payroll checks created during 2009 tax year.

2009 940 – Step 8:

Determine your FUTA tax and balance due or overpayment for 2009 940. Payroll Mate payroll software will automatically populate the fields related to this section based on employee checks.

2009 940 – Step 9:

Review the numbers populated by Payroll Mate 2009 for FUTA tax liability by quarter. Payroll Mate will not populate these numbers if line 12 on form 940 is less or equal to $500.

2009 940 – Step 10:

Once you finish steps 1 through 9 above, click on the “Preview” button inside 2009 Payroll Mate . Please go through all the fields on the 2009 form 940 and verify their values.

2009 940 – Step 11:

When you ready to print your 2009 940, click on “Print” button.

If you don’t already have a copy of Payroll Mate, you can download a free demo by going to the 2010 payroll software page.

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Our Payroll Mate payroll software allows businesses, accountants  and payroll service providers to prepare and print form 940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return). A free demo of Payroll Mate can be downloaded by going to the payroll software download page. You can also learn more about our form 940 software by visiting our payroll system page at: http://www.realtaxtools.com .

If the IRS receives your return after the 940 due date, they will treat your return as filed on time if the envelope containing your 940 return is properly addressed, contains sufficient postage, and is postmarked by the U.S. Postal Service on or before the form 940 due date or sent by an IRS-designated private delivery service on or before the due date.

Where Do You File form 940 for 2009?

If you are in Connecticut , Delaware , District of Columbia , Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan , New Hampshire  New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia or Wisconsin: If you are NOT sending a payment then send form 940 to: Department of the Treasury – Internal Revenue Service – Cincinnati, OH 45999-0046 .If you ARE sending a payment then send form 940 to Internal Revenue Service – P.O. Box 804521 – Cincinnati, OH – 45280-4521 .

If you are in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, , Missouri, Montana, Nebraska, Nevada, New, Mexico, North, Dakota, Oklahoma, Oregon, South, Dakota, Texas, Utah, Washington or Wyoming: If you are NOT sending a payment then send form 940 to :  Department of the Treasury – Internal Revenue Service – Ogden, UT – 84201-0046 . If you ARE sending a payment then send form 940 to Internal Revenue Service – P.O. Box 105078 – Atlanta, GA – 30348-5078 .

Download a free demo of Payroll Mate and prepare Form 940 now: Click here to download. Using a software to prepare form 940 will save you time and help you meet your Form 940 deadline for 2009 / 2010 .

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2009 1099 forms can be prepared, created, e-mailed, printed and e-filed using our W2 Mate 2009 software (in tax year 2010). You can also import 2009 1099 Form data from QuickBooks and other accounting software products. A free evaluation demo of our 2009 1099 software can be downloaded by going to the 1099 software page or by visiting our main page at http://www.realtaxtools.com/ .

2009 1099 Forms – What’s New

Extension of due date for statements sent to recipients:  The due date for furnishing statements to recipients for Forms 2009 1099-MISC (if amounts are reported in boxes 8 or 14) has been extended to February 15.  Our 1099 misc software can be used to print recipient copies of forms 1099-MISC on regular white paper. 1099 misc forms can also be generated as PDF to be e-mailed or sent electronically.

2009 Form 1099-DIV:  Payments of section 404(k) dividends directly from a corporation to participants in an employee stock ownership plan, or their beneficiaries, must be reported on form 1099-DIV. You can use our W2 Mate software to prepare, e-file and print 1099-DIV forms.

Instructions for 2009 Forms 1099-INT : The credit allowable to holders of the following tax credit bonds is treated as interest and reported in box 1 of Form 1099-INT;  (1) Qualified forestry conservation bonds issued after May 22,2008. (2) Qualified energy conservation bonds. (3) Qualified zone academy bonds. (4) Midwestern tax credit bonds. Our 1099-INT software for tax year 2009 can be used to prepare 1099-INT forms copies for recipient and for the IRS. It can also generate form 1096 to be sent with 1099-INT forms copy A.

Form 1099-MISC 2009: The following reporting changes have been made to Form 1099-MISC ; (1) Military differential pay. Payments made after 2008 to former employees while they are on active duty for more than 30 days in the Armed Forces or other uniformed services are not reported on Form 1099-MISC. Report those payments on  Form W-2 instead.  (2) Death benefits. Death benefits from nonqualified deferred  compensation plans paid to the estate or beneficiary of a  deceased employee are now reported on Form 1099-MISC  instead of Form 1099-R. Death benefit payments from qualified  plans continue to be reported on Form 1099-R. (3) Payments to individuals in medical research studies.  Payments made to individuals in medical research studies are reported in box 3. (4) Box 15a. Payers are not required to report deferrals under  nonqualified deferred compensation plans under section 409A in box 15a.

To learn more about our complete line of 2010 Payroll, 2009 W2 forms, 2009 1099 forms, and 2009 1099 software products please go to www.realtaxtools.com .

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Our W2 Mate software can be used to import W2 and 1099 forms data from Intuit EasyACCT “Information Return System” (IRS) once it gets exported as Comma Separated Value (CSV)  format.

Information Return System users should be able to easily export W2 and 1099 data into CSV from the screen used to prepare W2 or 1099 forms inside the software. 

Once the W-2 and 1099 data is exported to CSV it can be imported into our W2 Mate W2 1099 software by going to the “Import Data” menu item.

After importing the data, you can use W2 Mate to prepare, print, e-mail and e-file W2 and 1099 forms.

To learn more about W2 Mate software and for a free demo, please visit http://www.realtaxtools.com/ .

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Payroll Mate payroll software allows users to export payroll checks into a QIF file which can later be imported into Quicken or any other accounting software that offers QIF file import functionality. This feature is useful for Quicken users who would like to track payroll checks inside Quicken. This feature is also useful for the discontinued Quickpayroll users, who recently moved to Payroll Mate.

The process of exporting payroll checks from Payroll Mate to Quicken involves three main steps:

1- The first step is to generate the QIF file in Payroll Mate by running the “Export Payroll to Quicken QIF” report.

2- The second step is to create an account in Quicken.

3- The third step is to import the QIF file exported from Payroll Mate into the account created in Quicken.

Step One: Generating a QIF file inside Payroll Mate

(1) Inside Payroll Mate: Open the “Export Payroll to Quicken QIF” report by clicking on the menu item:

Tools > Export Payroll Data to > Quicken QIF. See Figure 1 below:

 Figure 1 (“Export Payroll to Quicken QIF” report)

(2) Inside the “Export Payroll to Quicken QIF” report, click on “Export Options” button. See Figure 2 below:

Figure 2 (“Export Options” button) 

 (3) Select the desired options inside the “Export Options” dialog.  Start by selecting the range of pay dates for the checks to be included in the export. Then select the list of employees to be included in the export. For “Quicken Category”, just click on the “Default” button to use the default value. When you are done with your selections, click “OK” .  See Figure 3 below:

Figure 3 (Select the desired options inside the “Export Options” dialog)

(4) Click on “Export” button inside the “Export Payroll to Quicken QIF” report. In the dialog that comes up select the path of the QIF resulting file and then hit “Save” . This will cause Payroll Mate to create a QIF with the name and path you selected. It’s always a good idea to select the Desktop as the path for the output file, so you can easily locate later on . See Figure 4 below:

Figure 4 (Click the Export Button Inside the “Export Payroll to Quicken QIF” report.) 

Step Two: Creating a New Account inside Quicken

You only need to do this step the first time you export to Quicken.

(1) Start Quicken.

(2) On the File menu, point to File, and then click New.

(3) You will be prompted with a selection window, select “New Quicken Account” and click OK. This will start the “Quicken Account Setup” wizard. See Figure 5 below:

Figure 5 (select “New Quicken Account”) 

(4) If the wizard starts by asking you “What is the financial institution for this account?”, then select the option: “This account is not held at a financial institution” and click “Next”

(5) When the wizard asks you to “Choose the type of account to add”, choose “Cash” from under the “Cash Flow” category, and click “Next”. See Figure 6 below:

Figure 6 (Choose Cash as the type of account)

(6) Next type in a name for the new account when the wizard asks you to “Name this account”.

(7) Click Next, and follow the on-screen instructions. When you are done with the wizard click the “Done” button.

Step Three: Importing QIF file into the Quicken Account

(1) Start Quicken.

(2) Choose File menu > Import > QIF file. You will be prompted with the “QIF Import” window.

(3) Start by selecting the path of the QIF file that you have created using Payroll Mate. You can either type in the file path or click on “Browse” button to locate the file.

(4) Next select the account you want to import the checks into, the account that you have created in the previous step of this tutorial should be listed under: “Quicken account to import into”

(5) Finally click on “Next” and you will be done importing your checks from Payroll Mate into Quicken through a QIF file.

Figure 7 (Importing QIF file into the Quicken Account)

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