2023 Form 940 and SUI Reporting

For years the only changes payroll professionals had to worry about was normal rate changes for state unemployment each year. But in recent years the IRS has made updates to the federal Form 940 and states are in a much different position financially regarding unemployment benefits. Because several states are faced with depleted funds, changes are occurring on payroll unemployment taxes. With the change in the economy and legislation changes happening more often this has become more complicated for both employees and employers.

This webinar will review the necessary updates on where our unemployment system is and how this will affect the way payroll professionals will do their jobs now and into the future.

Learning Objectives:

• Understanding who and what earnings are subject to unemployment taxes


• A review of FUTA tax rate and tax depositing


• Discuss Form 940 changes and common mistakes made


• How FUTA & SUTA interact and why it is important to understand


• Discussion on the status of the state unemployment system and how it will affect your job in the coming years


• Details of the FUTA Credit Reductions


• How to reduce and maintain your SUI rates