The number of people who fill out the 940 Form in 2021 each year depends on several factors, including the number of employers who meet certain criteria. The 940 Form, also known as the Employer's Annual Federal Unemployment (FUTA) Tax Return, is filed by employers to report and pay their federal unemployment tax.
The Internal Revenue Service (IRS) requires employers to file Form 940 if they meet any of the following conditions:
1. They paid wages of $1,500 or more to employees during any calendar quarter in the current or previous year.
2. They employed one or more persons for at least some part of a day in any 20 or more different weeks during the current or previous year.
3. They had an employee work for 20 or more weeks in a household as a household employer, paying cash wages of $1,000 or more in any calendar quarter during the current or previous year.
Given these conditions, the number of employers who meet these criteria may vary from year to year, depending on economic factors, employment rates, and other factors that impact job creation. Therefore, it is challenging to provide an exact number of people who fill out Form 940 each year.
However, according to the IRS, around 6 million businesses filed Form 940 in 2018, which serves as a reference point for understanding the scale of Form 940 filings. To obtain the most accurate and up-to-date figures for Form 940 filings, it is recommended to refer to IRS publications or consult with relevant tax authorities.