I am trying to file my 2017 940, but in line 4 (Payments exempt from FUTA tax) the form is reporting a negative 727.96. I can't locate what this amount is for, or why it is on this form. Can someone help me figure out where I can find this amount, and how I can remove it?
Hey there, gkabel.
Thanks for joining us here in the Community. I'm here to help figure out the amount showing on your 940 form.
I can see that you're using Intuit Online Payroll for your business. Line 4 of the form refers to payments exempt from the FUTA tax. We'll need to review the total wages and deductions for the period affected, subtracting pre-tax items that are such as 401(k), pre-tax medical, fringe benefits, etc.
If the problem continues after running the report, I recommend you give us a call. Our Chat Support Specialists will be able to pull up your account and further review the transactions on file.
Please reach them through the link below:
Please let me know if you have any questions or if you need further help with the 940 form. You can add more details by leaving a comment below.