2024 IRS tax forms 940, 943 and 944 have been updated inside our Payroll Mate desktop payroll software. Current users will need to download the latest updates to get the new forms by selecting “Help > Check for Update” from the top menu inside Payroll Mate 2024. Once you install the new updates, please click “Forms” from the left toolbar inside the software. From this screen you will be able to preview and print your forms. You can also click “Override Calculations” to enter the data you want incase you are using Payroll Mate as ATF payroll software. Please remember that California and New York are 2024 FUTA credit reduction states, this means Payroll Mate will also generate 2024 940 Schedule A (Multi-State Employer and Credit Reduction Information).
Year-end 2024 employment tax forms due dates:
Form 940 (2024)
- Due Date: January 31, 2025
- Extended Due Date (if all FUTA tax is deposited on time): February 10, 2025
Form 943 (2024)
- Due Date: January 31, 2025
- Extended Due Date (if all taxes are deposited on time): February 10, 2025
Form 944 (2024)
- Due Date: January 31, 2025
Form 941 (Last Quarter of 2024)
- Due Date: January 31, 2025
Form 940: Employer’s Annual Federal Unemployment (FUTA) Tax Return
- Purpose: Employers use this form to report and pay federal unemployment tax.
- Who Must File: Employers who paid wages subject to FUTA tax.
- Key Points: The FUTA tax rate is 6%, but employers typically receive a credit of up to 5.4%, resulting in an effective rate of 0.6%. Employers in credit reduction states may face a higher tax.
Form 943: Employer’s Annual Federal Tax Return for Agricultural Employees
- Purpose: Employers use this form to report and pay Social Security and Medicare taxes for farmworkers.
- Who Must File: Employers who paid wages to one or more farmworkers.
- Key Points: The Social Security tax rate is 6.2% for both employee and employer, with no wage base limit for Medicare tax. The credit for qualified sick and family leave wages has expired.
Form 944: Employer’s Annual Federal Tax Return
- Purpose: Small employers use this form to report and pay federal income tax withholding and Social Security and Medicare taxes.
- Who Must File: Small employers with an annual payroll tax liability of $1,000 or less.
- Key Points: The Social Security tax rate is 6.2% for both employee and employer, and the Medicare tax rate is 1.45% for both.
Businesses and tax professionals wanting to evaluate Payroll Mate and print year-end employment tax forms, can visit our downloads page using the link below:
https://www.realtaxtools.com/payrollsoftware/payroll_software.html