Utah Contractor Practice Exam 2026 – All-In-One Guide to Master Your Contractor Exam Success!

Question: 1 / 770

IRS Form ______ is due on January 31st for FUTA taxes.

1040

8062

940

The correct answer is to identify IRS Form 940, which is specifically used for reporting Federal Unemployment Tax Act (FUTA) taxes. This form is required to be filed annually but is tied to the employer's payment obligations, which can be due on a quarterly basis. The specific mention of January 31st pertains to the deadline by which employers must pay any FUTA taxes due for the previous year.

Form 940 serves to summarize an employer's annual FUTA tax liability and helps the IRS track the unemployment tax contributions made by employers for their employees. This is crucial for funding various unemployment benefits.

The other forms listed do not pertain to FUTA taxes. For example, Form 1040 is used for individual income tax returns, Form 8062 is not a standard form recognized for this purpose, and Form 1099-MISC is typically used to report various types of income other than wages, salaries, or tips. Thus, these forms do not have a January 31st deadline related to FUTA tax reporting.

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1099-MISC

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