Printable W 3 PDF Template

[toc] Tax season will be upon you faster than you think. It’s important to understand the different tax forms you might need to fill out. Most people are familiar with W-2 forms, but what about W-3 forms? A W-3 form is considered a transmittal form. It’s mailed to the Social Security Administration and reflects your earnings, Medicare wages, Social Security wages, and employee withholding for every employee over the previous year.

A W-3 form is also known by its official title, “Transmittal of Wage and Tax Statements.” W-3 forms are filled out by the owner of a business. You’ll use the employee totals from every W-2 form to calculate the total wages for the W-3 form.

A copy of the W-3 form is also given to every employee. It reflects their total taxes paid versus wages. This is the information employees use when they file their personal tax returns for their income taxes.

You’ll use the W-3 form to report the wages and taxes paid for everyone in your business. This is important both to show that you’re up-to-date on your taxes, and so that the IRS can compare your employee statements against the employee tax returns.

Many business owners opt to file their W-2s electronically. When this is the case, you aren’t required to compile all of your W-2 information into a W-3. The IRS recommends providing W-2 forms electronically for the sake of accuracy. If your business has more than 250 employees, you will be legally required to send your files electronically.

When you use the W-2 Online service, you have the option of using a fill-in W-3 form, which allows the submission of a maximum of 50 W-2 forms simultaneously.

Each tax season, business owners must submit a W-3 form to the IRS. Additionally, business owners must submit a copy of all of the W-2 forms for their employees. If you file online, you aren’t required to submit a W-3 form. Companies with an excess of 250 employees must file online rather than sending in a paper tax filing.

Every employee of a company will receive a W-3 form as well. This form will reflect the same information found on their W-2 form. It will explain the total wages they earned for the year, along with the taxes withheld. Employees will use these to calculate their personal tax returns.

For business owners, a W-3 is just a way of showing the total wages the business paid over the last year. It also shows the total amount of taxes withheld. This illustrates to the IRS that the business has been adhering to acceptable tax codes. It also allows corrections to be made if the business has made a mistake and not withheld enough from the employee wages.

W-3 forms become relevant for business owners every tax season. As with most tax documents, the filing deadline is January 31 of the year following the filing year. For example, the deadline for 2018 tax filing is January 31, 2019.

A business owner should use a W-3 form if they intend to send their filing by mail. Mail filings are required to have the W-3 form attached to every W-2 form for the employees. However, business owners who file online should not use a W-3 form. If there are multiple employees, you can fill out the online W-3 form to bulk upload up to 50 employee’s W-2 forms at once.

The potential consequences vary depending on the circumstances. For business owners who file electronically, there’s no penalty for choosing not to file a W-3. However, if you file through the mail, a W-3 is a required piece of tax formatting. You could be fined by the IRS for failing to submit it, or for submitting it late.

If you’re not sure whether you’re obligated to send a W-3 form, it’s best to have your accountant take a look at your business analytics and explain your obligations.

Boxes A through H on the W-3 form are about the employer. The majority of businesses will use the 941 checkbox to select “Kind of Payer.” A 941 form refers to the quarterly tax and wage report that most employers file. There are other options, including household employers.

For the “Kind of Employer” section, most businesses will check “none apply.” There are boxes that you’d check if you run a non-profit organization or are an employer for the federal government.

You can fill out the establishment number section in order to identify your different areas of business by division, subsidiary, or location. Each establishment must have its W-2 and W-3 forms separated if you choose to identify the number of establishments when filling out this section. Alternatively, you can combine the information for every establishment and submit all employee W-2 forms with just one W-3 form.

The second section of the document is labeled with numbers 1 through 19. Each number on this section corresponds with the same information on a W-2. For business owners, you’ll need to add up the totals for all employee W-2s and record these totals on the W-3.

Finally, you’ll give your contact information. You must include an email address.

You might want to consider sending out the employee W-3 copies before your official tax filing. That way, you can correct any potential errors that your employees point out. It saves you a lot of time and hassle.[pdf-embedder url=”https://cdn-prod-pdfsimpli-wpcontent.azureedge.net/pdfseoforms/pdf-20180219t134432z-001/pdf/printable-w-3-form.pdf”]