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S
shinchieh
January 3, 2020
Question

940 Overpayment refund

  • January 3, 2020
  • 2 replies
  • 0 views

My FUTA calculation from QB Online payroll is off every year and has overpayment being made. In the past, I just printed out 940 and did paper file to receive a refund. This year I did e-file via Quickbooks directly and wonder if I will be able to receive a refund check this way. 

2 replies

Adrian_A
Adrian_A
January 3, 2020

Hello there, shinchieh.

 

I'd like to know more about your question when trying to E-file the 940 form. This way, I can provide the correct solution for that. 

 

On the other hand, you can take a look at these articles on how to E-file the 940 tax forms:

 

I'll be keeping an eye for your response about this matter. Thank you.

S
shinchiehAuthor
January 3, 2020

Hi Adrian,

Thanks for replying. In short, for 940 if there is an overpayment, will I receive a refund from IRS if I submit the form via e file directly through QB online payroll? 

AlcaeusF
AlcaeusF
January 3, 2020

Thanks for getting back to us, @shinchieh.

 

If you've made an overpayment for the e-filed 940, then yes! Once the Internal Revenue Service (IRS) reviews and verifies that it is eligible for a refund, they will be the one to directly send a refund to you.

 

Just in case, I'll also add these articles for future reference:

 

 

Please let me know in the comment if you have any other issues or concerns, and I'll get back to you as quick as possible. I'm always here to help. Have a great weekend!

    A
    ACordell
    January 5, 2021

    I have the same problem. I have an overpayment, however, it will not let me even pull up the 940. It says the overpayment needs to resolved. What needs to happen?

    Angelyn_T
    Angelyn_T
    January 6, 2021

    I can guide you on how to resolve the overpayment before sending your 940 Form, @ACordell.
     

    Here's how:

    1. Open your QuickBooks Online account, then select Payroll Tax from the Taxes page.
    2. Select Pay Taxes to check the overpayment. Overpayments appear as negative amounts.
    3. Tap Resolve overpayment next to the negative amount. It will show you the breakdown of the taxes.
    4. Select if applicable:
      • Apply to a future tax payment  (recommended): Your overpayment will be applied to the next liability period.
      • Request a refund - Select this option if you prefer to get a refund.
    5. Hit Mark as Resolved.

    Once done, a message that we have updated your payroll info and to contact your tax agency for the next steps will appear. Whether you choose to apply the overpayment to the next liability period or get a refund, you need to contact the IRS or your state agency for guidance and to complete the task.

     

    For additional tips about submitting forms from QuickBooks Online, you can also open these articles:

     

    If you have any other questions, please let me know by adding a comment below. I'm always here to help. Have a great day!

    A
    ACordell
    January 6, 2021

    It doesn’t allow me to apply to a future tax payment. It tells me to contact my agency (which is the IRS).  It still does not allow me to pull up the 940. 

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