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Which of the following statements is true? Form 941 is filed quarterly; Form 940 is filed...

Which of the following statements is true? Form 941 is filed quarterly; Form 940 is filed annually Both Forms 940 and 941 are filed quarterly Form 941 is filed annually; Form 940 is filed quarterly Both Forms 940 and 941 are filed annually Both Forms 940 and 941 are filed monthly

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Answer . a. Form 941 is filed quarterly; Form 940 is filed annually

Explanation :

  • Form 941 is for Employer's Quartely Federal Tax Return which must be filed quartely.
  • Form 940 for Employer's Annual Federa Unemployment (FUTA) Tax Return which must be file annually
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