Listen to this articleIt’s an employer’s responsibility to report combined employee income to the Social Security Administration and Internal Revenue Service (IRS). This information must be shared on various copies of the W2 forms summarized in one W3 form, also known as ‘Transmittal of Wage and Tax Statements.’
There are several reasons you might need to print W3 in QuickBooks Desktop. Perhaps you send paper copies to your employees or accountant or need one for your records. Either way, you can easily print W3 in QuickBooks Desktop.
Are you not getting the option to print W3 in QuickBooks Desktop? Do not worry; just keep reading. This blog will explore how to download and print W3 in QuickBooks Desktop. However, before we dive into that, let us first explore what W3 is and its importance.
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What is a W3 Form?
A W3 form transmits wage and tax statements. It summarizes all the employee wages and contributions made in a year.
The employer uses a W3 form to report an employee’s total income to the Internal Revenue Service (IRS) and the Social Security Administration (SSA).
W3 Vs W2
W3 is a form employers or employees file with the IRS, besides W-2 and W-4. It is very easy to confuse a W-series form with another. While most business professionals have an accurate idea of what a W2 is, W3 needs a little introduction.
The W3 contains all the information in various employees’ W2s. Therefore, every employee has a specific W2, but the employer files only one W3.
You May Also Like: Fix Incorrect W2 Form in QuickBooks Desktop or Online
W3 Form Checklist
When you go ahead to fill out the W3 form, you should know everything it includes.
Therefore, here is everything that a W3 form features:
- Withheld Federal income tax
- Allocated tips
- Wages and Tips Taxable Under the Social Security Tax
- Withheld Social Security Tax
- Withheld State Income Tax
- Wages and Tips Taxable Under Medicare Taxes
- Withheld Medicare Tax
- Compensation Deferred
- Wages, Tips, and Other Compensation
- Benefits for Dependent Care
- Nonqualified plans
Importance of Timely W3 Filing
It is essential to file W3 forms timely to report total employee wages and taxes for the last year. W3 forms provide accurate payroll data to the Social Security Administration (SSA) and Internal Revenue Service (IRS).
The W3 form helps the Social Security Administration verify whether all wages were reported for the last year and evaluate whether the FICA (Federal Insurance Contributions Act) taxes were paid.
Do You Need to File a W3 Form?
Before you navigate to print W3 in QuickBooks Desktop, you should know who must file a W3 form. An employer who distributes more than one W2 form to employees must summarize the total salary distributed and withheld amounts in one W3 form.
Who must file a W3 form?
- Any employer that files a W2 form must file a W3 form.
- An employer pays an employee more than USD 600 in a financial year.
- The employer, whether or not they withhold an amount from the employee’s wages.
Now, check out what you need to file and print W3 in QB.
What You Need to File and Print W3 Forms Using QuickBooks
Before you go ahead and file and print W3 using QuickBooks, you must know everything you need.
- An existing subscription to QuickBooks Desktop or Online.
- A subscription to QuickBooks enhanced payroll services.
- QuickBooks Desktop or a web browser installed on the system.
- An active internet connection.
- Latest updates for QuickBooks software and tax table.
- You will need a printer, W2 paper, and ink to print the form.
While upgrading to the latest version of QB isn’t necessary, the latest tax table is important for accurate payroll and tax operations and ensuring compliance.
Two Major Ways to Pay and File Taxes for a QB User
There are two major ways for a QuickBooks user to pay and file a W3 form – automatically and manually. You can automate to allow QuickBooks to pay and file the state and federal taxes on your behalf.
Let us look at these two processes in detail.
1. Enable Automated Taxes and Forms
QuickBooks can pay and file the state and federal taxes for you – all you need to enable the automated taxes and forms feature in QuickBooks.
With these enabled, QuickBooks will send the W2 form to the employees between January 20 and 31. You can print these forms whenever you need them. QuickBooks will also allow you to print the W3 form for the current and previous years.
Navigate to the article’s next section to learn how to view and print the W2 and W3 forms.
2. Automated Taxes and Forms Disabled
You can disable the automated taxes and form filing and file them manually. Thus, to pay and file the taxes and forms manually or electronically, you must not enable the automated taxes and forms feature in QuickBooks. The next section elaborates on how you can enable and disable the same.
Remember the deadlines when you manually file the taxes and forms. You need to print all the W2 forms and send them to the employees by January 31 at the latest.
Similarly, you are also answerable to the IRS and SSA for filing W2 and W3 forms on time.
How to Enable Automated Taxes and Forms in QuickBooks
Let us see how you can enable the automated taxes and forms in QuickBooks Desktop.
- Click on the Gear icons to open QB settings.
- Click on Payroll Settings.
- Find the Edit option in the Taxes and Forms section. Click on it.
- Now, you can choose two options: either to automate taxes and forms or initiate payments and filings using QuickBooks.
- Choose to automatically automate taxes and forms to pay and file taxes and forms.
- Once done, click on Save and Done.
You can also use similar steps to disable or change the preferences for tax and forms.
How to Print W3 in QuickBooks Desktop
Stemming from two ways to pay and file taxes and forms, there are two ways to print W3 in QuickBooks Desktop. Firstly, you can print a W3 form by yourself. Secondly, you can let QuickBooks send W3 and print it for you. The second is an automated process that is more convenient.
In both processes, let us look at how you can print W3 in QuickBooks Desktop.
Remember:
- Before you start, update the QuickBooks software and tax table.
- When you reprint the forms for an employee who misplaced them, type “REISSUED STATEMENT” at the top and add a copy of the W2 instructions.
1 Let QuickBooks File W3 for You
When you wish to let QuickBooks file the W2 and W3 forms, you must enable the automated taxes and forms feature in QuickBooks. Then, you can go ahead and print W3 in QuickBooks Desktop.
Here are the detailed steps for the same:
- Click on the Gear icons to open QB settings.
- Click on Payroll Settings.
- Find the Edit option in the Taxes and Forms section. Click on it.
- Now, you can choose two options: either to automate taxes and forms or initiate payments and filings using QuickBooks.
- Choose to automatically automate taxes and forms to pay and file taxes and forms.
- Moreover, you can select the filing period through a drop-down menu.
- Once done, click on Save and Done.
Now, choose whether you must print a W3 or W2 form for the employee or employer. To print W3 for yourself, follow the steps below.
For QuickBooks Desktop Payroll Assisted
- Navigate to the Employees menu.
- Choose Payroll Center.
- Now, move to the File Forms section.
- Choose Annual Forms
- Select the option to view W3 forms.
- A pdf document will appear, which you can download and print.
For QuickBooks Desktop Payroll Enhanced and Standard
It is quite similar to printing W2 and W3 on QuickBooks Desktop. Here’s how you can print W3 in QuickBooks Payroll Enhanced and Standard:
- Navigate to the Employees menu.
- Choose Payroll Tax Forms and W2s.
- Now click on Process Payroll forms.
- Now, move to the File Forms section.
- Choose Annual form W-3 (Wage & Tax Statement/Transmittal).
- Select the option to create a form.
- Now, choose the employee’s name and the year.
- Choose the employees for whom you wish to print the form for now.
- Click on the option to review the forms.
- Once done, check the box for Reviewed W2s.
- Select the option to submit.
- Now, follow the on-screen instructions to view and print the W3 form.
2. Print and File Forms W2 and W3 Yourself
If you wish to pay and file taxes and forms manually or electronically, the first step is to ensure that the automated taxes and forms feature is disabled.
Here is how you can change the taxes and forms preferences and disable them.
- Click on the Gear icons to open QB settings.
- Click on Payroll Settings.
- Find the Edit option in the Taxes and Forms section. Click on it.
- Now, if the feature is enabled in your QuickBooks, you can edit the preferences and disable the automated taxes and filing.
Now, you should go ahead and print W3 in QuickBooks Desktop.
- Navigate to Taxes from the menu on the left.
- Choose Payroll Tax.
- Now, move to the File Forms section.
- Choose Annual Forms.
- Select the option to view W3 forms.
- A pdf document will appear, which you can download and print.
You can use these forms to file manually.
How to Download and View W3 in QuickBooks Desktop
Users who electronically file the W2 copies A and D with QuickBooks Desktop can view the W3 in QuickBooks Desktop.
Here’s how you can download and view W3 in QuickBooks Desktop:
- Navigate to the Taxes menu.
- Now, select Payroll Tax among all the options.
- Find the Annual Forms in the Forms section.
- Choose the W3 form and click on View.
A pdf form will appear, which you can download and view.
Final Words
The above blog explores the stepwise method to print W3 in QuickBooks Desktop. If you feel stuck in any step, have a query, or are facing QB-related issues, feel free to give us a call. Our QB ProAdvisors are available 24/7 to provide you with real-time support. Dial 1855-546-5024.
FAQs
You must only print form W3 in QuickBooks after you have generated and reviewed all the W2 forms for the year. Usually, this is done in January and February of the following year.
One major cause of issues printing W3 in QuickBooks is the printer and its settings. Review the printer’s connectivity with the system and check if the settings are properly configured. Contact the support team if everything is fine and you still can’t print W3 in QuickBooks.
To check the number of employees included in form W3 in QuickBooks is simple. Select Payroll Center under the Employees tab, Select File Forms > Payroll Center > Go to the Filing History section and go to the E-Filings tab. Now, choose between Saved Filings and E-filings tabs to refresh the list, and click the View link in the Audit Trail column.
