Information for IRS Tax Form W-3Published:
Tax Form W-3 is a transmittal which is forwarded to the Social Security Administration, showing total earnings, Medicare wages, Social Security wages, and withholding for all employees encompassing the entire year.
The Social Security Administration requires that Tax Form W-3 is sent to them no later than the end of February. Along with this, they also require copies of W-2 tax forms for all employees. To ensure accuracy, the totals from Tax Form W-3 should equal the total on all submitted W-2 forms.
Companies should send Tax Form W-3 to the Social Security Administration at the following address: Data Operations Center, Wilkes-Barre, PA 18769-0001.
IRS Tax Form W-3 (Transmittal of Wage and Tax Statements)
Completing Tax Form W-3 is not as difficult as it appears at first glance. The control number, which is found in Box A, is optional. Box B is where you check how you pay employment taxes. The majority of companies pay on Form 944 or Form 941. Box C is where you include the total number of W-2s that are being reported and included.
Pay special attention to Boxes E, F, and G, as they are used for administrative purposes. This is where you will include your employer ID number, business name, and address.
In Boxes 1 through 14, you enter the totals for all the W-2s for that particular category. For instance, Box 1 asks for the total wages, tips, and other compensation.
Boxes 15 through 18 are the totals for all state income tax and withholding from the W-2s.
To finalize the process, you must sign your Tax Form W-3.
Do I have to attach W-2s to Tax Form W-3 or do I send them separately?
You are required to submit both tax forms at the same time. For this reason, you will need to do all of the prep work accordingly. In other words, you cannot send tax form W-3 in January and your W-2s the next month. The Social Security Administration wants all this information at the same time.
Before you send off these tax forms, make sure your numbers and information are accurate. The totals on Tax Form W-3 should equal the amounts on your W-2s. And of course, double-check to ensure the accuracy of your name, address, and employer ID number.
All-in-all, Tax Form W-3 is a summary return which shows the totals from all employee W-2s.