The IRS has released draft versions of annual employment tax forms, Forms 940, 943, 944, and 945 for tax year 2025 and draft quarterly Form 941 for tax year 2026. A key proposed change is the introduction of direct deposit information fields for overpayment refunds.
This modernization effort signals the IRS’s intention to phase out paper checks and transition toward direct deposit refunds, likely beginning with the final 2025 annual forms filed in 2026, and for quarterly Form 941 starting in 2026.
While these changes are still in draft form and subject to final approval, employers should be aware that banking details such as routing number, account number, and account type may soon be available on these returns to receive any eligible refunds electronically.
At TaxMe, we’re already preparing for these enhancements. Our platform is engineered for rapid adaptation, and no other provider implements IRS changes faster than we do. As soon as the final forms are released, TaxMe customers will be the first to benefit from full support for direct deposit refunds.
We will continue monitoring all IRS developments and ensure your filings stay ahead of the curve.