What is a W-3?
Form W-3 is a transmittal form used in the United States to transmit W-2 forms to the Social Security Administration (SSA). It is a required form for employers filing W-2 forms, as it summarizes the information in the individual W-2 forms and provides an overview of the employer’s tax obligations.
The W-3 form must be filed with the SSA by the end of January following the tax year in question. The form provides the SSA with information on all employees’ total wages paid, tips reported, and taxes withheld. It also includes information on the employer’s tax liability, including social security and Medicare taxes and any additional taxes or contributions made by the employer.
Employers can file the W-3 form electronically using the SSA’s Business Services Online (BSO) system, which offers a secure and efficient way to file W-2 forms and other tax documents. Filing electronically can help ensure that the SSA receives the information in a timely manner and can reduce the risk of errors or inaccuracies in the data.
In addition to filing the W-3 form, employers must also provide each employee a copy of the W-2 form by January 31st of the year following the tax year. The W-2 form provides employees with information on their wages, tips, and other compensation, as well as the amount of federal, state, and local taxes withheld, social security and Medicare taxes paid, and other deductions such as retirement contributions or health insurance premiums.
Form W-3 is a transmittal form used to summarize and transmit W-2 forms to the Social Security Administration. It provides information on the total wages paid, taxes withheld, and other tax obligations for each employer. Employers must file the W-3 form by the end of February following the tax year in question and provide a copy of the W-2 form to each employee by January 31st. Filing electronically can help ensure that the information is received promptly and accurately.