What is the difference between 940 and 941? 1.10K viewsOctober 10, 2022Banking and Finance 0 Sam Smith11.38K February 22, 2021 0 Comments Spread the loveSpread the love 1 Answer ActiveVotedNewestOldest 0 Blogolu28.38K Posted February 22, 2021 0 Comments Spread the loveSo, the key difference between Form 940 and 941 is that Form 940 reports FUTA tax, which is paid entirely by the employer, whereas Form 941 reports withholding and shared taxes that are split between the employee and employer. Spread the love Login