Filing Your Return(s) and Paying Taxes

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FORM 940/941 MAGNETIC TAPE REPORTING

Magnetic tape reporting is neither a paper nor an electronic system, but an alternative way of filing for reporting agents filing Form 941, Employer's Quarterly Federal Tax Return and Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. The Magnetic Tape Program is often referred to as the "Mag Tape" Program.

Important References:

Fact Sheet Magnetic Tape Reporting

Web Link:

Forms 940 and 941 Magnetic Tape