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A
amilynn
July 11, 2024
Question

FINAL PAYROLL

  • July 11, 2024
  • 2 replies
  • 0 views

I prepare payroll for a company who has closed their doors in June.

How do i file a final form 940 when the available version is still only 2023?

And same for W2 forms? I am reading that you must send those out by the due date of the final quarterly report, but how does one do this when the 2024 version of a W4 is not available anywhere?

 

Ami

    2 replies

    I
    IrishNinoJ
    July 11, 2024

    Hello there, Amilynn. Let me share information about filing out a 940 form in QuickBooks Desktop (QBDT).

     

    You can directly download the forms from the IRS website and file them outside of the program if the owner decides to cancel their account as they're closing their business. Also, regarding the W4 form, you don't need to file it with the IRS, you'll only have to keep it. 

     

    These forms will be available in QuickBooks at year-end. You can manually submit and download the form outside QuickBooks if you need to file them now. You can find the required forms by visiting your country or state's tax agency website, where you can usually download the forms. 

     

    By the way, if you want to use our payroll service to file your year-end taxes again, you'll have to reactivate your subscription.

     

    In addition, you can check out this article and learn how to correct or amend previously filed federal forms 941 and 940: File a corrected Federal Form 941 and 940 in QBDT Payroll.

     

    If you have any further questions about payroll in QBDT, feel free to leave a reply. We're here to assist you 24/7.

    FishingForAnswers
    FishingForAnswers
    July 12, 2024

    @IrishNinoJ  Your screenshot is of a 2023 940, silly.

    FishingForAnswers
    FishingForAnswers
    July 12, 2024

    @amilynn  I am not sure what documentation you are looking at, but W-2s for 2024 are not due until the end of January 2025.

     

    As far as the 940, QuickBooks definitely will not have that ready until late December 2024 or, more likely, mid-January 2025.

     

    Even if you did somehow cobble one together, as far as I know, the IRS themselves haven't finalized the 2024 940 report; they wouldn't be able to process it even if you did submit it early.

     

    For now, you should just pay the relevant taxes and wait until year end.

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