Form 940 Worksheet Summary

The last page of the Form 940 Worksheet displays quarter-to-date and year-to-date summary information.

This topic describes Reporting options and procedures for the Vantagepoint desktop application. If you use the Vantagepoint browser application, see the topics under Reporting.

Quarter-to-Date and Year-to-Date Data

The report displays the following quarter-to-date and year-to-date summary data:

Column Description Enter the year-to-date amount on Form 940
Total payments for services of employees All employee compensation, including 125/Cafeteria amounts. Part I, Line 1
Exempt payments Calculated before excluding 125/Cafeteria amounts. Part I, Line 2
Payments for services of more than <wage base> Calculated after excluding 125/Cafeteria amounts. Part I, Line 3
Total exempt wages Part I, Line 4
Total taxable wages The net of the total payments less exclusions and the payments for services of more than <wage base>. Part I, Line 5
Gross FUTA tax (@%) Calculated by applying the tax percentage to the total taxable wages. Part II, Line 1