IRS Releases Draft Version of Annual FUTA Tax Return Form

The Internal Revenue Service released a draft version of Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, June 26.

The draft version of Form 940 contains a new checkbox for aggregate filers. Filers may identify themselves as a certified professional employer organization, a Section 3504 agent, or another third party.

Part 4 of the form includes new lines 15b through 15e, which provide space for employers to submit their banking information for overpayment refund purposes. The current form also allows employers to request a refund for any tax overpayments but does not provide a space for employers to include ...